• Oil gained after the Federal Reserve signaled it still planned to cut interest rates this year, boosting risk appetite and hurting the dollar.
• Global benchmark Brent rose above $86 a barrel following the biggest drop in about a month on Wednesday after it strayed into overbought territory. West Texas Intermediate was near $82. Fed officials maintained their outlook for three rate cuts this year after keeping policy steady on Wednesday. A weaker US currency tends to benefit commodities priced in the greenback.
• Nationwide US crude inventories, meanwhile, dropped by 1.95 million barrels, shrinking for a second week to remain below the five-year seasonal average. A bigger-than-expected draw was also seen in gasoline holdings.