Oil futures settled lower on Thursday, giving back some of the recent gains that lifted prices to their highest levels of the year. “Even though we have seen a good rally in crude recently, we see the energy complex continuing to go higher,” said Tariq Zahir, managing member at Tyche Capital Advisors, “with the recent Saudi news along with Russia extending production cuts until the end of the year.” October West Texas Intermediate crude CLV23 fell 67 cents, or 0.8%, to settle at $86.87 a barrel on the New York Mercantile Exchange.

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