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Crude oil declines despite US supply drop

By The Associated Press
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Crude oil declined in price Thursday after an unexpectedly large drop in U.S. stockpiles was offset by rising supplies of refined fuels.

Benchmark U.S. oil for July delivery was down 42 cents to $102.22 a barrel at 0750 GMT in electronic trading on the New York Mercantile Exchange. The contract shed 2 cents to close at $102.64 on Wednesday.

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