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Oil rises amid escalation in Middle East conflict that could exacerbate supply disruptions in the region. The U.S. military said it destroyed five Iranian tankers after attempts to hit a U.S. Navy warship with ballistic missiles, ANZ Research said in a report.
Crude oil rises above $82 a barrel on Friday, reversing prior-session losses amid deadlocked talks to end the conflict and reopen the Strait of Hormuz, while the IEA cuts demand expectations and flags supply declines.