Mubasher: Oil prices rose on Thursday for the third consecutive session, amidst expectations of a decline in Saudi crude imports.

The Saudi representative at the Organization of the Petroleum Exporting Countries (OPEC) revealed that Riyadh expects to reduce its oil imports by around 100,000 barrels per day.

Nymex futures rose by 1.02% to settle at the level of $69.46 per barrel, while Brent crude went down 0.44% and closed at $72.58 per barrel, after nearing $73.6 earlier in the session.