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Oil prices eased on Thursday, after having hit a seven-year high in the previous session on demand optimism and news of short-term supply disruptions.
U.S. West Texas Intermediate (WTI) crude was down $0.67 or 0.77 percent to $86.29 per barrel.
Investors booked profits after industry data showed U.S. crude and gasoline stocks rose last week.
Crude stocks rose by 1.4 million barrels for the week ended Jan. 14 while gasoline inventories rose by 3.5 million barrels, according to the American Petroleum Institute. However, distillate stocks fell by 1.2 million barrels, after last week's 3.035 million barrel increase.
Meanwhile, the flow of crude oil through the Kirkuk-Ceyhan pipeline has resumed, after it was halted on Tuesday due to a blast near the pipeline in the southeastern Turkish province of Kahramanmaras, officials said.
