Analysts said besides profit-booking by speculators at existing higher levels, fall in demand in the physical market against adequate stocks position weighed on crude palm oil prices at futures trade.
The U.S. West Texas Intermediate crude April contract, according to investing.com, was down about 0.34% at $60.80 a barrel by 07:45 GMT, just off Thursday's two-and-a-half week lows of $60.20.
The dollar rose after Federal Reserve Chairman Jerome Powell said the USA central bank would stick with gradual interest rate increases.
A stronger dollar also dented oil prices.
The oil market had put together a string of four straight days of gains before Tuesday's pullback.
Global oil prices are one of the factors taken into account while formulating the Indonesian Crude Oil Price (ICP) issued by the Ministry of Energy and Mineral Resources through the Directorate General of Oil and Gas in the first week of the following month.
US crude oil production rose to a record 10.057 million barrels per day (bpd) in November and retreated slightly in December to 9.949 million bpd, the EIA said on Wednesday.
On Wednesday, the government reported that US crude stocks USOILC=ECI rose faster than expected while gasoline inventories posted a surprisingly large increase.
US light crude CLc1 is forecast to average $58.88 a barrel in 2018, up from $58.11 in the January poll. Weekly data showed another record and further gains are expected.
"Despite the expanding output curbs by OPEC and non-OPEC members such as Russian Federation, the market has been focusing more on rising USA output since around late January", Akuta added.
The United States will overtake Russian Federation as the world's biggest oil producer by 2019, International Energy Agency (IEA) Executive Director Fatih Birol said on Tuesday.
"Then we have the volatility in the USA dollar and the implications of the tariff news to factor in", he said. "The United States will become the No.1 oil producer sometime very soon", he said. Crude prices remained under pressure from concerns that US production may be high enough to offset output cuts from OPEC and Russian Federation, he said.
"For now though, the gains in US supply are prevailing in shaping sentiment in the oil market, other analysts said".
Dick's, a US retailer of camping supplies, sporting goods and guns, will stop selling assault rifles and high-capacity magazines. Legal experts said they saw no likely challenges to Dick's decision to stop selling assault-style rifles.
Two hospital officials have been placed on leave after a mix-up led to doctors performing brain surgery on the wrong patient. One patient required surgery to remove a blood clot on his brain, while the other needed only treatment for a swollen head.
A spokesman for the Department of Homeland Security did not immediately respond to a Reuters request for comment. All state and federal officials that spoke with the news outlet said that votes were not tampered with.
Rocklin resident Wenyu Zhang, 42, was found by Squaw Valley Ski Patrol, according to the Placer County Sheriff's Office . Officials say the man was off the groomed run when he fell head-first into deep powder and suffocated.
The Hawkeyes won a 70-61 game at Northwestern on February 11 in the only regular-season meeting between the teams. The 6-foot-6 Muscatine, Iowa, native broke the state scoring record in Iowa's highest classification this season.
Taking to social media on Monday, Kim uploaded the sweet mum and daughter snap alongside the caption "Baby Chicago ". As for the color's permanency, Kardashian West confirmed the dye job with a simple tweet: "I don't really do wigs".
After a soggy start to our Thursday , a passing cold front has pushed most of the wet weather off to our east. A cold front pushes through Tuesday, potentially dropping temperatures into the 30s Tuesday night.
It has just been last December that it had acquired Blink , a company that specializes in the development of connected doorbells. Terms of the deal have not yet been announced , though Reuters suggests that it could be worth at least $1 billion Dollars .
The arbitrators ground their decision by the fact that the situation with the Ukrainian economy has drastically worsened. The decision to terminate the contracts was made after the Stockholm Court of Arbitration violated Gazprom's interests.
In comparison, at the height of the dotcom mania, the valuation of technology stocks were a third of global GDP". Bank of England Governor Carney tears into bitcoin in a stinging speech and interview on Friday.
In his letter to investors, Mr Buffett said the tax cut accounted for almost half of the firm's gain in net worth during 2017. The magic touch of Buffett and Munger can also be seen in the current equity portfolio of Berkshire Hathaway .