Oil prices declined Wednesday after data showed that crude-oil supplies shrank last week but inventories of refined products rose. Light, sweet crude for August delivery settled down 74 cents, or 1.2%, to $60.27 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 96 cents, or 1.5%, to $63.49 a barrel on ICE Futures Europe. U.S. oil prices have gained 13% this year on expectations that the global glut of crude oil is due to shrink. U.S. commercial crude-oil supplies fell by 4.9 million barrels in the week ended June 19, the U.S. Energy Information Administration said Wednesday. That was the eighth straight week of stockpile draws since inventories hit a record high in April, the longest streak of drawdowns since the eight weeks ended Jan. 4, 2008. Analysts surveyed by The Wall Street Journal had expected a draw of 2.3 million barrels. “It was a […]