Oil edged lower in Asia after jumping almost 5% on Wednesday as U.S. stockpiles data added to signs the demand outlook is improving.
Futures in New York traded near $63 a barrel after closing higher for a third day, the longest run of gains in more than a month. U.S. crude inventories dropped the most in almost two months last week, while a gauge of gasoline demand ticked higher for a seventh straight week. The bullish data added to upbeat assessments by OPEC and the International Energy Agency.
Oil had been stuck near $60 a barrel after a rally faltered in mid-March amid a resurgence in virus cases in some regions.