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World Oil Prices Hit Lowest Point in Three Months

World oil prices fell to their lowest level in three months Thursday after reports that the key U.S. market is well-supplied with crude oil.

Crude prices touched 46 dollars and 80 cents a barrel at one point.

The price of crude oil for June delivery rose slightly to $46.85 by the time New York trading finished for the day.

The price decline followed Wednesday's government report that U.S. crude oil supplies are at a six-year high.

Some information for this report provided by AP, AFP and Reuters.