est Texas Intermediate oil futures bounced off six-and-half year lows Thursday, getting a lift from weakness in the U.S. dollar as the September contracts expired.
But the move represented a modest tick higher for the commodity which has been pressured by a surprise weekly increase in crude supplies and concerns about the Chinese economy.
Crude futures for delivery in September US:CLU5 gained 34 cents, or 0.8%, to settle at $41.14 a barrel, after settling Wednesday at the lowest since March 2, 2009. The September futures contracts expired at the close. October crude CLV5, -2.49%which became the front-month contract, settled at $41.32, up a nickel.