Oil settles with a gain for first time in six sessions

Oil futures settled with a gain on Thursday, with U.S. prices up for the first time in six sessions, finding support as a selloff in Chinese stocks abated and difficult negotiations over Iran’s nuclear program helped ease supply worries.

Prices also got a boost as upbeat economic data about Japan and Germany lifted prospects for energy demand.

August West Texas Intermediate crude CLQ5, +0.95%  rose $1.13, or 2.2%, to settle at $52.78 a barrel on the New York Mercantile Exchange, but remains more than 7% lower since the end of last week. ICE August Brent crude LCOQ5, +0.78%  added $1.56, or 2.7%, to $58.61 a barrel, slicing a week-to-date loss to 2.8%.

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