Monday, February 11, 2008

Oil Spikes on Chavez Threats....

Chavez threatens oil supply disruption over Exxon case. Venezuelan President Hugo Chavez expanded his threats to cut off oil shipments to the United States, saying he would close the tap if oil companies succeed with lawsuits challenging his nationalizations.

Oil ran up $4.50 on Friday to $91.78, causing the US market to sell off in the afternoon.

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