Oil prices settle above $63 for the first time in over 3 years

Oil prices on Wednesday settled above $63 a barrel for the first time in more than three years after the Energy Information Administration reported an eighth-straight weekly decline in U.S. crude supplies, along with a fall in weekly production. February West Texas Intermediate crude rose 61 cents, or 1%, to settle at $63.57 a barrel on the New York Mercantile Exchange.

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From:: Stock Market News

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