New York — Oil prices rose for the third consecutive day on Thursday after Saudi Arabia suspended oil shipments through a strait in the Red Sea and as trade tensions between the US and the EU eased. Brent futures rose 57c to $74.50 a barrel by3.42pm GMT. The contract earlier touched $74.83 a barrel, the highest since July 16. US West Texas Intermediate (WTI) crude futures were up 41c at $69.71. After meeting European Commission president Jean-Claude Juncker at the White House on Wednesday, US President Donald Trump agreed to refrain from imposing car tariffs while the EU and the US start talks on cutting other trade barriers. "The market is very calm as it tries to assess the impact from the President Trump deal with the EU to hold off on tariffs," said Phil Flynn, analyst at Price Futures Group in Chicago. Brent rose in post-close trading on Wednesday after Saudi Arabia said it was "temporarily halting" oil shipments through the Red Sea shipping lane of Bab-el-Mandeb after an attac...
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