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NEW YORK — A drop in U.S. crude supplies boosted oil prices Wednesday, and possible government stimulus spending could help push oil higher this year.
Benchmark West Texas Intermediate crude for August delivery rose as high as $99.21 before settling at $98.05 a barrel on the New York Mercantile Exchange.
Retail gasoline prices rose a penny Wednesday to a national average of $3.645 a gallon, according to AAA, Wright Express and Oil Price Information Service. In Denver, prices rose slightly to $3.447.
