The U.S. Independence Day holiday on July 4 will delay until Thursday weekly U.S. inventory data, which some analysts expect will show higher U.S. fuel production after several plants returned from maintenance.
ConocoPhillips planned to begin a restart of a gasoline-making unit in Texas on Friday, while two crude units at a BP refinery in Indiana will reach full rates within two to three weeks.
A series of outages in the world's top consumer has helped drive down gasoline stockpiles during peak summer demand, though crude stockpiles have risen to nine-year highs.
Speculators on the New York Mercantile Exchange trimmed net long positions, or bets that prices will rise, in crude oil from a two-month high in the week to June 26, the Commodity Futures Trading Commission said Friday.
Crude stockpiles in Cushing, Oklahoma -- the delivery point for U.S. crude futures -- fell by 1.4 million barrels in last week's data, prompting the U.S. benchmark to narrow its discount to Brent.
U.S. crude has been trading at an atypical discount to Brent since February, weighed down by higher inventories after a spate of refinery outages cut demand.
Attacks on Nigeria's oil industry that have cut production in Africa's top exporter and supply cuts by the Organization of the Petroleum Exporting Countries have helped Brent climb 17% this year.