Oil prices recovered on Friday, after a sharp drop the previous day, as US threats of military action against Iran stoked supply disruption concerns.

The potential drama came after US President Donald Trump had said an β€œarmada” of American warships was heading towards the Middle East amid mounting tensions with Tehran.

Brent, the benchmark for two thirds of the world's oil, was 0.95 per cent at $64.67 a barrel at 12.08pm UAE time.

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