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US Oil Supplies Decline; Prices Rise

Crude oil prices rose Wednesday after a government report showed U.S. supplies of crude oil, gasoline, and other oil products declined last week.

The Energy Department report said crude oil inventories dropped more than one million barrels, a decline of about one-third of a percent.

Stocks of gasoline declined around 1.5 percent, which is more than experts had predicted.

The price of a barrel of crude oil for future delivery rose 69 cents to $77 a barrel in New York. London prices also rose.

Some information for this report was provided by Reuters.