SINGAPORE, May 28 (Reuters) - Crude oil prices edged up on Thursday morning after a two-day slide, although high U.S. stocks and strong global production, along with a firm dollar, were keeping markets under pressure.
The increases followed two days of steep falls as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws.
* Front-month U.S. crude futures were up 25 cents from their last settlement at $57.76 per barrel by 0040 GMT on Thursday.
* Brent futures climbed 40 cents to $62.46 a barrel.
* Brent’s premium over U.S. prices CL-LCO1=R has come off over 45 percent since mid-April as record OPEC production weighed on Brent while the American benchmark received some support from the peak demand summer driving season as well as almost a month of steady stock draws that only came to an end this week.
* Industry group American Petroleum Institute (API) said after the market’s settlement that U.S. crude inventories rose by 1.3 million barrels last week, following three weeks of straight withdrawals.
* The U.S. dollar index ticked lower, though remained near one-month highs and advancing against the yen. Nikkei futures rallied.
* The following data is expected on Thursday (GMT):
0600 Germany Import prices Apr
0900 Euro zone Business climate May
1230 U.S. Weekly jobless claims
1400 U.S. Pending home sales Apr
Reporting by Henning Gloystein; Editing by Richard Pullin