U.S. oil prices rose Thursday after top exporter Saudi Arabia denied having any plans to inundate the market with crude oil to push prices lower, and said instead that its oil exports would probably decline next month. Light, sweet crude for August delivery ended 1% higher to $69.46 a barrel on the New York Mercantile Exchange. Brent crude, the global benchmark, was 0.4% lower at $72.58 a barrel. Concerns that Saudi Arabia and its partners are moving to substantially oversupply the market are “without basis,” Saudi Arabia’s governor to the Organization of the Petroleum Exporting Countries, Adeeb al-Aama, said in an statement. He added Saudi Arabia is committed to the agreement between OPEC and its allies, and its crude oil exports in July will be roughly equal to their June levels, while in August they will drop by around 100,000 barrels a day. Oil prices had fallen sharply in […]