Oil slipped 0.6 per cent but remained in sight of $58 today.
US oil jumped $1.17 the previous session taking gains for the week to over 4 per cent. But it fell today, with US crude down 36 cents at $57.78 a barrel earlier and London Brent crude 41 cents lower at $56.99.
Prices have rebounded from a 20-month low of $49.90 a fortnight ago as cold weather - albeit late in the northern winter season - helped to draw down US distillate fuel stocks for the first time in nearly two months.
Data published on Wednesday showed US heating oil stocks dropped 3.4 million barrels last week as consumption jumped.
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The National Weather Service has forecast below normal temperatures in the next two weeks, suggesting demand will stay strong.