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Author Topic: Little reaction in oil market to Chavez death Back to Topics
xgojim

Champion Author
Michigan

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Message Posted: Mar 6, 2013 8:42:58 AM

BANGKOK Oil markets are taking the death of Venezuelan President Hugo Chavez in stride, with the price of crude little changed Wednesday.
Chavez, who died Tuesday after a two-year battle with cancer, versaw a decline in oil production during his 14 years as the leader of Venezuela, and analysts don't expect that trend to change immediately. The full impact of his death may not be felt until Venezuela, which sits on the world's second-largest oil reserves, picks a new leader -- one who might choose a course different from Chavez. The existence of ample global oil supplies kept markets at ease. Benchmark oil for April delivery was down 8 cents to $90.74 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. "Problems in Venezuela will undoubted
Visit CBS Money Watch for full article
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endymion
Champion Author New York

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Message Posted: Mar 7, 2013 8:21:10 AM

Chavez has been terminal for a long time...no surprise that he passed. No signal of change in policy from those who have been running things during his illness, so for the markets, it is not an event until that happens.
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CdnLynx
Champion Author Ontario

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Message Posted: Mar 7, 2013 2:00:48 AM

There is a darkness in the hearts of some posters here; sadly they're comments that are no better, then the anti-American rhetoric spoken, by a man that was obviously sick and has now passed away!
As much, as I abhorred this dictators goals/methods; two wrongs don't make a right; I also must condemn the hateful thoughts expressed by some of of GB members. Actually the hateful comments, makes those posters look pathetic.

[Edited by: CdnLynx at 3/7/2013 2:02:22 AM EST]
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A_NY_Outlaw
Champion Author Albany

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Message Posted: Mar 6, 2013 9:50:56 PM

No reaction yet, however anyone who thinks this will keep prices unchanged or in check is simply naive.
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PathfinderSC
Champion Author South Carolina

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Message Posted: Mar 6, 2013 8:35:23 PM

Why should anyone death have any reaction on our oil prices ?
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mike56MI
Champion Author Michigan

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Message Posted: Mar 6, 2013 5:47:13 PM

OK
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YumaFellow
Champion Author Arizona

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Message Posted: Mar 6, 2013 1:36:25 PM

With Chavez in declining health for some time, I suspect the markets had already factored in some uncertainty after his death.
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MadFueler
Champion Author Winston-Salem

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Message Posted: Mar 6, 2013 1:28:48 PM

Good riddance to Chavez - and here's hoping Venezuela returns to common sense. Yes, of course the oil trade goes on, but maybe now they'll be in a better position to fully take advantage of it.
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hrtdi
Champion Author Vermont

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Message Posted: Mar 6, 2013 11:34:44 AM

they contain it......but i'm sure they're partying right now!!!
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Buckeyee
Champion Author Maine

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Message Posted: Mar 6, 2013 10:53:25 AM

Who will Obama try to follow now ? Chavez did some good tho, the free heating oil program to the poor in this country. Obama & the democrats have cut the heating program for the needy for the last 2 years.
Bet you didn't see that on TV !!
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HoosierDaddyKY
Champion Author Kentucky

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Message Posted: Mar 6, 2013 10:41:07 AM

'Hmmm, Very interestink' said Colonel Klink!
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vwilsonskis
Champion Author New Jersey

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Message Posted: Mar 6, 2013 10:31:37 AM

doesn't Venezuela have the lowest gas prices in the world????
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abacus44
Champion Author Toms River

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Message Posted: Mar 6, 2013 10:07:36 AM

One down, .....
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CorvairHaven
Champion Author Cleveland

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Message Posted: Mar 6, 2013 10:07:05 AM

I suppose that's a good thing?
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Van_Halen
Champion Author Atlanta

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Message Posted: Mar 6, 2013 9:40:51 AM

.
As if it was Chavez that controlled oil prices and NOT OPEC! Can one get more stupid then CBS?!
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WestDriver
Champion Author Grand Rapids

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Message Posted: Mar 6, 2013 9:32:14 AM

That's nice to hear for gasoline and petroleum products. Their oil is excellent for gasoline, so really nice to hear.
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cdrrod
Champion Author Wisconsin

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Message Posted: Mar 6, 2013 9:30:53 AM

Wonder if he will be buried in the oil fields...
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MrDeath666
Champion Author Houston

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Message Posted: Mar 6, 2013 9:28:26 AM

Only people like Obama get upset when an evil Socialist dies.
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JamesCalvin
Champion Author Lancaster

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Message Posted: Mar 6, 2013 9:22:41 AM

LOL!
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amoshins
Champion Author Trenton

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Message Posted: Mar 6, 2013 9:20:05 AM

It will be interesting to see how the oil market will react to Chavez's successor...I doubt there will be little reaction there
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Buck_on_Bass
Champion Author Tennessee

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Message Posted: Mar 6, 2013 9:10:36 AM

TXranger09: Hugo Chavez was reelected. He was in Cuba being treated on Venezuela's the inauguration day. It seems his return was not to govern the country but to die in his country.
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USMCturtlehead
Champion Author Lexington

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Message Posted: Mar 6, 2013 9:06:48 AM

Should have been big celebration and drop the prices of oil.
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bsnort
Champion Author Huntsville

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Message Posted: Mar 6, 2013 9:04:56 AM

i'm sure a lot of former business owners down there are happy - maybe now they can reclaim their business back from the govt........................
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Evilmaddog
Champion Author British Columbia

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Message Posted: Mar 6, 2013 9:04:09 AM

that's surprising... for any excuse will do
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investmentdr
Champion Author Cleveland

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Message Posted: Mar 6, 2013 9:03:36 AM

who?
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dm9667_23
Champion Author Pennsylvania

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Message Posted: Mar 6, 2013 8:57:34 AM

Hugo bye bye
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TXRanger09
Champion Author Dallas

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Message Posted: Mar 6, 2013 8:56:05 AM

But had Hugo had re elected himself, again, how would the market have reacted? I think you know.
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Seamus4513
Champion Author Orange County

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Message Posted: Mar 6, 2013 8:55:54 AM

Whatever
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humblepie
Champion Author Toledo

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Message Posted: Mar 6, 2013 8:45:52 AM

rih hugo you twit
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xgojim
Champion Author Michigan

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Message Posted: Mar 6, 2013 8:44:36 AM

Wonder what the power vacuum will bring to Venezuela.
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