The European benchmark Brent crude traded in London climbed on Tuesday increasing the Brent-WTI premium from $11.97 to $12.01 on today's session after the EIA report showed that inventories fell 6.1% by 23.8 million barrels in the last four weeks and refiners' capacity was used on 92.7%. Brent for February delivery jumped 16 cents to $111.37 per barrel on the ICE Futures Europe exchange.