World crude oil prices plunged Thursday for the second straight day on an optimistic U.S. weekly energy stocks report showing improved supplies.

New York's main contract, light sweet crude for delivery in June, fell 2.34 dollars to end at 69.94 dollars a barrel, after hitting 69.30 dollars.

On London's ICE Futures exchange, the price of Brent North Sea crude for June delivery was down 2.36 dollars to finish at 70.29 dollars a barrel.

Inventories of U.S. commercial crude oil and gasoline climbed last week, the Energy Department reported Wednesday in its weekly nationwide survey.

Data showed that the nation's commercial crude oil inventories climbed by 1.7 million barrels to 346.7 million barrels, or 5 percent above year-ago levels.

Gasoline stockpiles rose 2.1 million barrels to 202.7 million barrels, or 5 percent below year-ago levels. Most analysts predict that gasoline stocks declined for the ninth straight week, according to a Dow Jones Newswires survey.

At the same time, supplies of distillates, which are used to make heating oil and diesel, decreased by 1.1 million barrels to 114.5 million barrels, or 10 percent higher than last year.

Source: Xinhua