WTI last trades $0.05 lower at $61.30, while....>

OIL: WTI last trades $0.05 lower at $61.30, while Brent trades $0.15 or so

higher at $64.50.

- Crude did rally on Wednesday following a smaller than exp. build in DoE

headline crude inventories, before selling off as US production fears took a

hold once again.

- Crude does trade well away from Wednesday's lows as risk sentiment has

improved.

- From a technical perspective WTI continues to chop around 21 & 55-DMAs this

week with follow through lacking in both directions. Layers of support remain

$59.14-60.13 where the daily bull channel base and 100-DMA are noted. Bears need

a close below the 100-DMA to hint at a move back to $53.30-55.37 with below

$57.90 to confirm. Bulls look for a close above $64.24 to hint at a move back to

$66.39-65 and above $64.97 to confirm.