Oil futures settled squarely in positive territory on Thursday as traders fretted over a looming supply outage in Iran and falling output in Venezuela, which could be supportive for prices. U.S. benchmark West Texas Intermediate crude for July delivery rose $1.22 cents, or 1.9%, to $65.95 a barrel on the New York Mercantile Exchange. Meanwhile, a popular energy-related exchange-traded fund, the Energy Select Sector SPDR ETF was surging 1.6%.
Read the full story: Oil bounces back, settles higher on Iran, Venezuela output woes