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Crude oil prices rose Wednesday after President Donald Trump warned Iran that a “massive Armada” is heading in its direction and time is running out to make a deal on its nuclear program.

Global benchmark Brent

rose 55 cents, or 0.81%, to $68.12 per barrel by 10:33 a.m. ET. U.S. crude

oil was up 63 cents, or 1.01%, to $63.02.