Mumbai, Jan. 5 -- Oil prices slipped below $57 per barrel as markets assessed the fallout from the capture of Venezuelan President Nicolas Maduro by US forces and its potential impact on global crude supply. Despite Venezuela holding the world's largest proven oil reserves, investors remained cautious, noting that the OPEC producer accounts for only a small share of global output and the market is already dealing with a growing supply glut. Brent traded near $60 a barrel after volatile moves, while West Texas Intermediate hovered around $56. Reflecting the global weakness, MCX January crude oil futures traded near Rs.5140 per barrel, down Rs.12, as supply concerns were overshadowed by broader oversupply pressures.
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