Oil prices rise on softer dollar

Brent futures LCOc1 for February delivery rose by 63 cents to $55.09, or 1.2 percent, per barrel, having finished 89 cents lower on Wednesday. U.S. West Texas Intermediate crude CLc1 rose 54 cents, or 1 percent, to $53.03 a barrel.

The dollar index .DXY, which tracks the greenback against a basket of six currencies, slipped by 0.3 percent as investors took profits after its rise to a 14-year peak earlier this week.