Crude futures settle lower

Oil prices fell on Thursday.

The West Texas Intermediate (WTI) for August delivery lost 65 cents, or 0.82 percent, to settle at 78.95 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for September delivery decreased by 72 cents, or 0.85 percent, to settle at 84.23 dollars a barrel on the London ICE Futures Exchange.

The Iranian Foreign Ministry on Thursday condemned a series of U.S. strikes targeting civilian facilities and infrastructure of the country.

Iran's semi-official Tasnim News Agency reported Thursday that U.S. strikes hit residential areas, communications towers, and bridges in many locations, including Bandar Abbas, Sirik Port, and Qeshm Island. The strikes on residential areas in Bandar Abbas reportedly caused casualties and power outages in some neighborhoods.

In a statement, the Iranian Foreign Ministry condemned the attacks against Iran in recent days, especially the strikes on non-military facilities.

These illegal attacks are undoubtedly a flagrant violation of the United Nations Charter and the fundamental principles of international law, the ministry said in a statement.

On the same day, White House press secretary Karoline Leavitt said at a press conference that talks between the United States and Iran were ongoing despite the renewed hostilities, and President Trump "is not going to allow them to fire on ships in the strait without paying a consequence for that", she asserted.