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NEW YORK (AP) - Oil prices rose to a six-month high above $64 a barrel Wednesday amid rising tensions between Iran and the West and as inventories declined in the U.S.
Though denied by the U.S. military, it was rumored that Iran fired a missile at an American ship in the Persian Gulf.
Iran, one of the largest oil producers, is located along the Strait of Hormuz, through which much of the world's oil is transported. Traders worry that oil supplies could be disrupted if unrest escalates there.
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