Crude oil futures ended higher on Thursday, extending their previous session’s gains, holding close to their highest in almost three years, supported by drawdowns in US inventories and accelerating German economic activity. Doubts about the future of the 2015 Iran nuclear deal that could end US sanctions on Iranian crude exports also helped prices. However, with the Organization of Petroleum Exporting Countries and their allies set to discuss rising crude production beyond July, the uptick in oil prices was just modest on Thursday.
Crude oil futures for August rose $0.22 or 0.3 percent to settle at $73.30 barrel on the New York Mercantile Exchange. August Brent crude gained $0.25 or 0.35 percent to settle at $75.45 a barrel on London's Intercontinental Exchange.