Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that hammered prices, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo
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Oil prices rallied on Friday after the United States launched a missile strike against Syria, sparking fears that an escalation of the conflict in the crude-rich Middle East could disrupt supplies.Both main contracts jumped more than two percent to their highest levels in a month after US President Donald Trump ordered an assault in retaliation for a chemical attack in Syria that Washington blamed on Damascus.By 1100 GMT, Brent North Sea crude for delivery in June was up 35 cents at $55.29 per barrel compared with Thursday's close.While Syria is not a major oil producer, it borders Iraq, OPEC's second-largest crude producer.
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