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Oil prices rose on Thursday, buoyed up by easing tensions between two of the world’s biggest economies. Brent crude futures LCOc1 climbed 0.7%, to $61.26 a barrel. US WTI futures CLc1 were priced 0.9% higher, at $56.25 a barrel. China exempted a few of the U.S. anti-cancer drugs and other goods from tariffs. US President Trump, on the other hand, delayed the scheduled tariff hikes on Chinese goods.