Oil prices rose on Thursday after the API data showed a further drawdown in crude inventories, and strong demand for crude imports in China. Front-month U.S. West Texas Intermediate crude futures rose 0.50 percent at $59.89 a barrel. Front-month Brent crude futures edged up 0.30 percent to $66.57 a barrel. The spread between the two benchmarks stood at $6.68 a barrel. (The update will suspend publishing during the New Year holiday. The issue on January 2 will introduce the market in the previous trading session.)

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