Oil futures mark first loss in 3 sessions

Oil futures finished lower Thursday, with U.S. prices logging their first loss in three sessions as pressure from strength in the U.S. dollar outweighed support from recent data showing sizable weekly declines in crude supplies and production.

The U.S. dollar strengthened against most currency rivals Thursday in the wake of upbeat U.S. GDP data, weighing on dollar-denominated oil prices.

West Texas Intermediate crude for September delivery CLU5, -0.62%  shed 27 cents, or 0.6%, to settle at $48.52 a barrel on the New York Mercantile Exchange. September Brent crude LCOU5, -0.30%  on the ICE Futures exchange lost 7 cents, or 0.1%, to $53.31 a barrel after a modest rise a day earlier.

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