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Venezuela’s concern of oil export disruption led to the rise of oil prices on Friday. The concerns are over the imposition of sanctions signaled by Washington on Thursday. Brent went up by 1%, to $61.70 a barrel. WTI increased by 1.2% and was traded at $53.76 per barrel. On the other hand, US crude production has witnessed a substantial increase leading to the swelling of U.S. fuel inventories.
