White House denies report on Iran oil deal; WTI rebounds

On Thursday, the White House denied a report that the United States and Iran were close to a deal in which Iran would limit its nuclear program in return for sanctions relief. 

As a consequence, crude oil prices rebounded, trimming losses. The WTI barrel is down by just 1.50%, hovering around $71.50 after falling earlier to $69.10, the lowest level in a week.