Light, sweet crude oil for July delivery lost 36 cents to $70.93 a barrel and July Brent at London's ICE Futures exchange shed 31 cents to $70.10 a barrel. Bullion shed more than 2% Thursday to a one-month low as gold's fall intensified on a firming dollar. Spot gold dropped to $629.80 an ounce, the lowest since April 27, before slightly recovering to $632. The dollar advanced against major currencies on Thursday after minutes from the Federal Reserve's latest policy meeting buoyed expectations that the interest rates will be hiked. The greenback was trading at 112.55 yen, down 0.04 yen from late Wednesday in New York. The euro dropped to $1.2779, from $1.2814. The British pound fell to $1.8634 from $1.8689 in New York.