Latest Oil Market News and Analysis for Jan. 5

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Oil fluctuated as traders weighed the fallout from the US capture of Venezuelan President Nicolás Maduro on global crude supply and its wider impact on the nation’s energy sector.
Brent fell as much as 1.2% at the open before clawing back losses to trade near $61 a barrel. West Texas Intermediate was near $57. Despite the upheavel over the weekend in Venezuela, the OPEC producer accounts for only a small fraction of global supply and the market is already grappling with a swelling glut.