U.S. crude oil inventories decrease last week: API

HOUSTON, Jan. 3 (Xinhua) -- The American Petroleum Institute (API) on Thursday reported a draw of 4.50 million barrels in the U.S. crude oil inventories for the week ending Dec. 28.

In the previous week ending Dec. 21, API reported a build of 6.92 million barrels.

Oil prices climbed on Thursday in choppy trading after separate surveys indicated crude output in major oil producers declined.

The West Texas Intermediate (WTI) for February delivery gained 0.55 U.S. dollar to settle at 47.09 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery increased 1.04 dollars to close at 55.95 dollars a barrel on the London ICE Futures Exchange.