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The IEA says markets can adapt to US sanctions against Venezuela



Energy market players may be able to adapt to US sanctions against Venezuelan crude industry, the IEA said in its closely monitored report on Tuesday.

"Nevertheless, surplus crude oil prices have hardly changed news about the sanctions. This is because in the crude oil market, markets may be able to adapt to the first logistical dislocations," the Group says.

International benchmark Brent crude traded at around $ 62.90 on Tuesday morning, up 0.8 percent, while the US West Texas Intermediate (WTI) stood at $ 53.46, more than 0.6 percent higher.


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