U.S. oil prices pared back early losses on Thursday, but remained under pressure after the Federal Reserve raised rates for the first time in nearly a decade and official figures showed a surprise build in U.S. inventories.
U.S. crude futures were down 0.24% at $35.44 a barrel at 11.57 GMT after finishing down nearly 5% on Wednesday.
Internationally traded Brent futures were up 0.64% to $37.64 a barrel. The global benchmark fell 3.3% the previous session.
The U.S. Fed hiked interest rates for the first time in nearly a decade on Wednesday.
Higher U.S. rates typically support the dollar, making oil and other commodities denominated in the greenback more expensive.
Meanwhile, a report from the Energy Information Administration on Wednesday showed crude inventories rose 4.8 million barrels last week to near record highs, adding to concerns over a global supply glut.