Oil futures settled back under $60 a barrel on Thursday, with traders increasingly worried about how much oil Iran can add to the global market should sanctions be lifted as part of a deal with world powers over its nuclear program.June crude CLM5, -0.12% fell $1.99, or 3.3%, to settle at $58.94 a barrel on the New York Mercantile Exchange. Prices had settled near $61 Wednesday at their highest level of the year.
Brent crude for June delivery LCOM5, +0.20% on London’s ICE Futures exchange settled lower by $2.23, or 3.3%, lower at $65.54 a barrel.
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