Oil futures finished lower Thursday, pulling back after posting healthy gains over the past two sessions and reaching their highest levels of the year.Traders weighed mixed fundamental influences for the market, with support from separate data showing China’s oil imports jumped last month and U.S. crude production fell last week, but weekly U.S. crude stockpiles continued to increase.
On the New York Mercantile Exchange, June West Texas Intermediate crude CLM6, +1.16% on its first full trading day as a front-month contract, fell by $1, or 2.3%, to settle at $43.18 a barrel. Prices for the contract gained more than 7% over the last two trading sessions to settle Wednesday at their best level of the year. Brent crude LCOM6, +1.01% declined $1.27, or 2.8%, to $44.53 a barrel on London’s ICE Futures exchange.
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