Oil futures ended lower for the second session in a row on Thursday, as traders continued to assess the outlook for energy consumption. Edward Moya is a senior market analyst with OANDA. He believes that the U.S. debt ceiling drama will ultimately play a greater role in driving oil prices. However, for now, any downside to prices seems limited. Oil looks to be consolidating. Many of the negative news stories have been priced in, so new monthly lows are unlikely. June West Texas Intermediate crude CLM23, -1.45% dropped $1.69 or 2.3% to settle at $70.87 a barge on the New York Mercantile Exchange.