Oil gives up earlier losses to finish with a modest gain

Oil futures gave up earlier weakness Thursday to finish with a modest gain, notching another three-and-and-a-half-year settlement high. "Oil volatility is very elevated right now as traders digest what the U.S. withdrawing from the Iran nuclear deal means for market fundamentals," said Tyler Richey, co-editor of the Sevens Report. June West Texas Intermediate crude rose 22 cents, or 0.3%, to settle at $71.36 a barrel on the New York Mercantile Exchange after trading as low as $70.56. It climbed 3% on Wednesday, a day after the U.S. announced its decision to exit its deal with Iran.