U.S. oil futures shake off early loss to finish nearly flat

U.S. oil futures gave up their early Thursday losses to settle almost unchanged for the session. Prices found some support following a report from the Energy Information Administration showing a third straight weekly fall in U.S. crude inventories, along with larger-than-expected weekly declines in gasoline and distillate supplies. However, uncertainty surrounding the outlook for the economy, and energy demand, continued to limit any gains for oil prices, analysts said. West Texas Intermediate crude for August delivery CLQ23 edged up by a penny to settle at $71.80 a barrel on the New York Mercantile Exchange.

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