Oil prices settled lower on Thursday, reversing early gains under pressure from rising COVID-19 infections in India and elsewhere although prices retained some support from a report a day earlier that U.S. crude inventories fell more sharply than expected. Brent crude oil settled lower by 87 cents, or 1.3%, at $68.09 a barrel. West Texas Intermediate (WTI) U.S. crude futures dropped 92 cents, or 1.4%, to $64.71. “When Saudi Arabia cut their crude selling price, it was a stark reminder that there are still pockets of danger of COVID that could impact demand,” said Phil Flynn, a senior analyst at Price Futures Group in Chicago. On Wednesday, both benchmarks hit their highest since mid-March before retreating to close little changed after two days of gains. India posted record daily COVID-19 infections and deaths, with the […]