• Oil held a modest decline, with a risk-off tone in broader markets countering a drawdown in US stockpiles.
• Brent crude traded near $88 a barrel after a 0.5% drop on Wednesday, with West Texas Intermediate close to $83. The drop came despite data showing nationwide crude inventories fell by a bigger-than-expected 6.37 million barrels last week as refineries ramped up processing and exports rose.