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Oil prices climbed on the back of new US sanctions on Venezuelan state-owned PDVSA. International Brent crude oil futures traded 0.2% lower, at $60.05 per barrel. US West Texas Intermediate (WTI) crude futures edged 0.3%, priced at $52.12 per barrel. The freshly imposed sanctions on the Venezuelan state-owned oil firm intend to diminish Venezuela’s crude exports to the US.