Published: July 7, 2016 2:43 p.m. ET

 Oil futures dropped by nearly 5% Thursday to book their lowest settlement in two months. Worries about a potential slowdown in energy demand and a weekly decline in U.S. crude inventories that was smaller than some expected put pressure on prices, despite data showing a sizable weekly decline in domestic oil output. August WTI crude CLQ6,+0.38% fell $2.29, or 4.8%, to settle at $45.14 a barrel on the New York Mercantile Exchange. That was the lowest settlement since May 10.