2018.05.3115:16:00UTC+00Crude Oil Falls Near $67

Crude oil futures were lower Thursday, giving back yesterday's strong gains ahead of U.S. oil inventories data.

July WTI oil dropped $1.17, or 1.7%, to settle at $67.04/bbl. Oil was down 2 percent in May, but touched a 4-year peak mid-month.

Personal income in the U.S. increased in line with economist estimates in the month of April, according to a report released by the Commerce Department on Thursday, while personal spending climbed by more than anticipated.

The Commerce Department said personal income rose by 0.3 percent in April after edging up by 0.2 percent in March. The increase in income matched economist estimates.