Oil futures finished higher on Thursday as traders weighed support from a second straight weekly decline in U.S. crude inventories against pressure from worries about the outlook for energy demand. The Energy Information Administration on Wednesday reported a weekly decline of 5.1 million barrels but “there’s been little evidence thus far that the demand outlook is set to improve,” said Michael Hewson, chief market analyst at CMC Markets UK. June West Texas Intermediate crude
CLM23,
edged up by 46 cents, or 0.6%, to settle at $74.76 a barrel on the New York Mercantile Exchange after settling Wednesday with a loss of 3.6%.
