Investing.com – Oil Friday recovered from sharp overnight losses on disappointing official U.S. crude stocks data.
U.S. crude was up 34 cents, or 0.75%, at $45.48 at 06:30 ET, while Brent crude added 0.67% to $46.71.
U.S. crude late Thursday dipped below $45 for the first time since May 11 as prices lost about 5%.
The detonator for the losses was a fall of only 2.2 million barrels in U.S crude stocks last week.
American Petroleum Institute data Wednesday showed a drawdown of 6.7 million barrels.
Concerns about demand for oil and a glut of refined products continue to overhang the market.
Investors will be looking to U.S. nonfarm payroll data due out later Friday.
The U.S. dollar index was lower. A weaker dollar supports demand for oil.