Oil prices settled higher Friday after wavering in a tight range, as investor continued to digest U.S. crude stockpile data.

U.S. crude stocks decreased by 2.4 million barrels to 454.9 million barrels last week, the U.S. Energy Information Administration (EIA) said in its weekly report Wednesday.

A weaker U.S. dollar also made the dollar-denominated oil more attractive for holders of other currencies.
The U.S. dollar decreased against most other major currencies on Thursday as Wall Street digested the country's newly-released announcement about tax reform.

The dollar index, which measures the greenback against six major peers, decreased 0.14 percent at 94.685 in late trading.

The West Texas Intermediate for December delivery increased 0.24 U.S. dollar to settle at 54.54 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery added 0.13 dollar to close at 60.62 dollars a barrel on the London ICE Futures Exchange.