oil steadied after posting the biggest loss in five weeks as a broad shift away from risk assets was offset by signs of a tighter crude market including a record drop in us inventories west texas intermediate was little changed below 80 a barrel after tumbling by 23 on wednesday as a spike in treasury yields hurt equities and most commodities that broad selloff came as data showed a drop of more than 17 million barrels in us crude stockpiles the biggest ever draw in volume terms inventories at the key hub at cushing shrank for a fifth week “while it was the largestever fall in volume terms it was viewed as an anomaly due to adjustment factors the eia uses” analysts at anz group holdings ltd including adelaide timbrell said in a note referring to the energy information administration “even so it highlights the tightness in the market that is emerging amid falling opec output” crude rallied last month with wti erasing yeartodate losses after the organization of petroleum exporting countries and allies including russia cut back production the surge lifted prices to the highest since april spurring concerns that there could be a pullback after such a rapid gain to get bloomberg’s energy daily newsletter direct into your inbox click here