U.S. oil futures stretch losses into a third straight session

Prices for U.S. benchmark oil futures ended lower on Thursday for a third consecutive session, pressured by a more than 10 million-barrel weekly rise in domestic crude supplies and climb in U.S. production to its highest on record. “Iran is the big wild card” when it comes to the Israel-Gaza war. If it gets involved, that market will be concerned if anything happens in the Strait of Hormuz, the world’s most important oil chokepoint, said Tariq Zahir, managing member at Tyche Capital Advisors. “If we don’t see any situation happen with Iran or the Strait, we could see oil come off in the days and week ahead.” November West Texas Intermediate crude
CLX23,
+0.68%
fell 58 cents, or 0.7%, to settle at $82.91 a barrel on the New York Mercantile Exchange.