Oil prices moved little on Thursday as a slump in US fuel demand, along with hints of a weak economy, countered worries of escalated tension in the major production sites in the Middle East.

Brent crude ticked up by 9 cents to $88.11 per barrel, following a drop of 0.5% in the earlier session.

While US WTI added 7 cents to $82.88 per barrel, following a 0.6% slump on Wednesday.

According to figures released by EIA on Wednesday, demand for gasoline fell 2.8% from the previous week and 11% from the previous year in the week ending April 19.

Distillate fuel demand also plunged from an earlier week and dropped 4.7% from a previous year.

The slid of fuel demand is happening along with hints of eased US business activity in April and as better than projected inflation and employment figures implies that Fed will likely postpone rate cuts, which consequently impact economic sentiments.