Oil prices edged higher on Friday as political turmoil in Venezuela threatened to tighten crude supply, but concerns over surging U.S. fuel stocks and global economic woes weighed on sentiment. The United States signaled on Thursday it may impose sanctions on Venezuelan exports after recognizing opposition leader Juan Guaido as interim president this week, prompting President Nicholas Maduro to cut ties with Washington. Brent crude oil futures ended the session at $61.64 a barrel, up 55 cents, or 0.9 percent.
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