Investing.com - Crude oil prices were steady on Thursday, supported by a fall in U.S. crude inventories after 10 straight weeks of builds and a weaker dollar, but a global oversupply still dominated broader sentiment.
U.S. crudel futures were at $37.21 per barrel at 11.50 GMT, slightly higher for the day, but still not far off this week's seven-year lows below $37 per barrel. Prices are down over 11% since the beginning of December.
Internationally traded Brent futures were at $40.35 a barrel, up 0.51%.
Crude inventories fell 3.6 million barrels in the week to December 4, compared with analysts' expectations for an increase of 252,000 barrels, U.S. Energy Information Administration data showed on Wednesday.
Along with signs of dipping U.S. production, oil prices were also supported by a weaker dollar making the world most traded commodity more affordable to importers.