U.S. oil futures decline, but settle above the session’s lowest levels

Oil futures declined on Thursday, pressured after a media report that said the U.S. and Iran were nearing a deal that would help alleviate sanctions on Tehran. Prices, however, settled above the session’s lowest levels as the U.S. called the media report “false,” according to a report from Reuters. July West Texas Intermediate crude
CLN23,
-1.78%
fell $1.24, or 1.7%, to settle at $71.29 a barrel on the New York Mercantile Exchange.