The oil futures dropped slightly after rising sharply during the first half. This happened because traders considered a bigger-than-expected rise in U.S. stocks as a trade-off against tightening global stock.

U.S. West Texas Intermediate futures declined 58 cents (or 0.56%) to $10.65/barrel at 0046 GMT. Futures futures lost 38 cents (0.3%%) at $108.38/barrel.

On Wednesday, both contracts were able to weather a significant buildup in inventories and ended the session roughly 4 percent higher. As fears of further disruptions in global supply continue to shake the market, this led to a sharp rise in prices.

Wednesday’s warning by the International Energy Agency was that approximately 3 million barrels per hour of Russian oil may be restricted due to embargoes or sanctions.

Reuters reports that major trading companies around the world are planning to cut down on crude and fuel imports from Russia’s state oil companies.

The U.S. Energy Information Administration reported Wednesday that oil stocks rose by over 9 million barrels last weekly despite signs of global supply disruption. This was due in part to releases from strategic reserves. According to Reuters, analysts expected a 863,000-barrel increase.

U.S. gasoline stockpiles fell to 3.6 million barrels, which is much higher than expected. Also, distillate inventories declined.

Edward Moya from OANDA, senior analyst wrote that “Oil prices seem very comfortable above the $100 mark as U.S. & Chinese demand seems in the right place.”