Oil steadied after the biggest gain in two weeks that was driven by easing US inflation and bullish demand data.
Brent crude traded near $71 a barrel after jumping 2% on Wednesday, with West Texas Intermediate below $68.
US consumer prices rose at the slowest pace in four months in February, official data showed, although economists anticipate that an escalating trade war will drive up prices on goods like food and clothing in the coming months.
"Crude oil prices have been a beneficiary of the risk-on sentiment across markets," said Charu Chanana, chief investment strategist for Saxo Markets Pte in Singapore. "However, risks persist, with concerns around global growth and potential tariffs clouding the outlook."
Source: Bloomberg
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