Crude-oil futures rose Wednesday after the American Petroleum Institute reported U.S. inventories of crude and gasoline fell last week. Crude stockpiles dropped by 1 million barrels, while gasoline inventories declined by 2.9 million barrels, industry group API said after crude's floor trading closed Tuesday. Crude for June delivery rose 80 cents, or 1.5%, to $54.64 a barrel in early North American electronic trading. The Energy Department's Energy Information Administration will release its report on supplies later this morning. Analysts surveyed by Platts expect a buildup of 2.2 million barrels in crude and a buildup of 750,000 barrels in gasoline inventories.

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