Prices of oil futures declined on Thursday with traders monitoring statements by large producers, as well as new economic developments.
Russian Deputy Prime Minister Alexander Novak said that huge changes to the OPEC+ alliance's output reduction agreement should not be expected at its upcoming meeting, while Fitch Ratings warned it could cut the United States credit rating due to uncertainty surrounding its debt ceiling.
West Texas Intermediate (WTI) for settlements in July was down 2.57% to $72.43 per barrel at 9:25 am ET. Brent for deliveries in July decreased by 2.28% to $76.58 per barrel a minute later.
