: Oil futures down a second session as traders eye demand prospects


Oil futures finished lower for a second straight session Thursday as traders continued to weigh the outlook for energy demand. U.S. “debt ceiling drama will eventually play a larger driver for oil prices, but right now whatever downside we are seeing with prices appears to be limited,” said Edward Moya, senior market analyst at OANDA. “Oil looks like it is ready to consolidate here. A lot of the bad news has been priced in so fresh monthly lows seem unlikely.” June West Texas Intermediate crude CLM23, -1.52% fell $1.69, or 2.3%, to settle at $70.87 a barrel on the New York Mercantile Exchange.

This article was originally published by Marketwatch.com. Read the original article here.

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