Oil prices fell today by more than a dollar, closing out the week with the second straight weekly decline. Both benchmarks lost more than $3 on Thursday after a media report that a U.S.-Iran nuclear deal was imminent and would result in more supply. Prices pared losses after both countries denied the report, ending about a dollar a barrel lower. “The Saudi cut lifted prices slightly, and then the chatter of the potential return of Iranian barrels saw a large drop. Long investors are likely on the sidelines until larger oil inventory declines become visible,” he said. WTI traded down $1.12 or -1.6% to close at $70.17. Brent traded down $1.17 or -1.5% to close at $74.79.