World oil prices have steadied after surging by almost $4 a barrel on Wednesday on news that stockpiles of US motor fuel were tightening.
US crude rose 17 cents to $105 a barrel, while London's Brent North Sea crude fell by 48 cents to $103.75.
Crude futures had rocketed on Wednesday after the US government's Energy Information Administration said that petrol reserves tumbled by 4.5 million barrels last week. Market expectations had been for a lighter drop of 2.5 million barrels.
At the same time, however, the EIA said US crude inventories had surged by 7.4 million barrels in the week ending March 28. The gain was much bigger than analysts had expected.
The market is beginning to closely watch petrol reserves ahead of the peak demand season for motor fuel in the US, which begins in May when Americans begin their summer holidays.
