India, May 15 -- European stocks closed sharply lower on Friday on renewed concerns about inflation as oil prices rose sharply amid Middle East tensions. A lack of positive outcome from the U.S.-China summit weighed as well on sentiment.
U.S. President Donald Trump said he will not be much more patient with Tehran. Concerns about Hormuz Strait linger despite Iran's Revolutionary Guards' claim that around 30 vessels had crossed the strait since Wednesday evening.
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