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Squawk Box anchors discuss the oil price rally following an attack on two tankers in the Gulf of Oman. The U.S. State Department points the finger at Iran, but Tehran denies the accusations. Asian equities are mixed, with more protests over a controversial extradition bill in Hong Kong planned over the weekend. In Luxembourg, European finance ministers meet with the soaring Italian debt under the microscope. And in London, the race to replace Theresa May as Prime Minister and leader of the Conservative Party has been whittled down from ten to seven, with Boris Johnson winning a commanding first-round victory.