Mubasher: Oil futures settled lower on Thursday, as the US reported a decline in natural gas inventories

May Nymex WTI lost $0.25, or 0.4%, to close at $59.98 per barrel.

Energy Information Administration (EIA) stated that the US natural gas inventories fell by 47 billion cubic feet (Bcf) in the week ended 15 March, totalling 1,143 Bcf.