WTI is up by 0.39% on the day to $63.62
The trendline support from September last year stemmed helped to provide a base of support to stem yesterday's decline - before the turnaround in risk sentiment - and so far oil is holding steady in trading today.
There isn't much catalyst to go by right now for oil, as the inventories report itself was rather mixed. Crude oil inventories showed a larger drawdown than expected (a positive) but Cushing inventories rose by the largest amount since 2009 (a negative).
Traders leaned more on the former result in guiding prices, but the end of February high at $64.24 will be the next level of resistance to look out for.
In the bigger picture, the $66.66 high this year (where a double-top pattern was formed) is still the key level to watch for any upside move while to the downside, it is the trendline support mentioned above.
Personally, I don't see a huge potential for any upside moves beyond $70 as highlighted here last week.
