Oil futures settled slightly higher on Thursday after some wild swings amid uncertainty about the outlook for oil demand, and on possible excess supply in the market.
Recent data showing a jump in crude inventories in the U.S., and the OPEC+s decision to return voluntary output from April, weighed on prices.
The dollars weakness supported oil prices, but
West Texas Intermediate Crude oil futures for April settled at $66.36 a barrel, up $0.05% from previous close.
Brent crude futures were up $0.12 or 0.17% at $69.42 a barrel a little while ago.
Comments from US Commerce Secretary Lutnick gave crude a boost. Lutnick said President Trump is likely to defer tariffs on Canada and Mexico for all goods and services compliant with the United States-Mexico-Canada Agreement (USMCA).
Data from Bloomberg said analytics firm Vortexa showed Russian Feb oil products exports reached a 1-year high of 2.5 million bpd.
