Oil futures edge higher Thursday, consolidating after slumping in the face of a surging U.S. dollar, as investors weighed a forecast from the International Energy Agency and awaited U.S. inventories data.

WTI oil has an American Petroleum Institute gravity of 39.6 degrees, considered “light.” WTI also has a sulfur content of just 0.24%, making it very “sweet.” WTI crude oil is typically the benchmark for U.S. oil prices in the trading world.

Oil prices were largely steady on Thursday, with traders holding fire after declines earlier this week on a stronger U.S. dollar and worries about rising supply amid slow demand growth. Brent crude futures were down 3 cents to $72.