Not Logged In Log In   Sign Up   Points Leaders
Follow Us    1:07 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Little reaction in oil market to Chavez death Back to Topics
xgojim

Champion Author
Michigan

Posts:1,421
Points:750,105
Joined:Mar 2011
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
REPLIES (newest first) Post a Reply
Profile Pic
endymion
Champion Author New York

Posts:2,217
Points:442,590
Joined:Nov 2012
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.
Profile Pic
CdnLynx
Champion Author Ontario

Posts:1,221
Points:794,945
Joined:May 2008
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]
Profile Pic
A_NY_Outlaw
Champion Author Albany

Posts:1,506
Points:1,004,825
Joined:Mar 2011
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.
Profile Pic
PathfinderSC
Champion Author South Carolina

Posts:11,190
Points:2,157,905
Joined:Mar 2008
Message Posted: Mar 6, 2013 8:35:23 PM

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

Posts:2,849
Points:632,665
Joined:Aug 2011
Message Posted: Mar 6, 2013 5:47:13 PM

OK
Profile Pic
YumaFellow
Champion Author Arizona

Posts:2,921
Points:938,870
Joined:Jan 2011
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.
Profile Pic
MadFueler
Champion Author Winston-Salem

Posts:2,719
Points:504,160
Joined:Sep 2012
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.
Profile Pic
hrtdi
Champion Author Vermont

Posts:2,465
Points:482,265
Joined:Dec 2012
Message Posted: Mar 6, 2013 11:34:44 AM

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

Posts:6,567
Points:1,205,030
Joined:May 2010
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 !!
Profile Pic
HoosierDaddyKY
Champion Author Kentucky

Posts:2,377
Points:519,215
Joined:Dec 2011
Message Posted: Mar 6, 2013 10:41:07 AM

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

Posts:2,333
Points:562,535
Joined:May 2011
Message Posted: Mar 6, 2013 10:31:37 AM

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

Posts:5,011
Points:1,070,930
Joined:Jan 2011
Message Posted: Mar 6, 2013 10:07:36 AM

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

Posts:5,926
Points:1,780,465
Joined:Sep 2008
Message Posted: Mar 6, 2013 10:07:05 AM

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

Posts:3,038
Points:898,230
Joined:Apr 2011
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?!
Profile Pic
WestDriver
Champion Author Grand Rapids

Posts:1,836
Points:845,720
Joined:Oct 2006
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.
Profile Pic
cdrrod
Champion Author Wisconsin

Posts:5,608
Points:1,089,785
Joined:Feb 2006
Message Posted: Mar 6, 2013 9:30:53 AM

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

Posts:51,773
Points:576,250
Joined:Sep 2012
Message Posted: Mar 6, 2013 9:28:26 AM

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

Posts:4,930
Points:848,835
Joined:Nov 2011
Message Posted: Mar 6, 2013 9:22:41 AM

LOL!
Profile Pic
amoshins
Champion Author Trenton

Posts:3,360
Points:943,645
Joined:Apr 2011
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
Profile Pic
Buck_on_Bass
Champion Author Tennessee

Posts:9,387
Points:1,746,525
Joined:Jul 2007
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.
Profile Pic
USMCturtlehead
Champion Author Lexington

Posts:258,400
Points:435,225
Joined:Feb 2013
Message Posted: Mar 6, 2013 9:06:48 AM

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

Posts:1,017
Points:493,665
Joined:Aug 2012
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........................
Profile Pic
Evilmaddog
Champion Author British Columbia

Posts:4,998
Points:1,288,000
Joined:Aug 2010
Message Posted: Mar 6, 2013 9:04:09 AM

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

Posts:5,498
Points:1,775,255
Joined:Sep 2008
Message Posted: Mar 6, 2013 9:03:36 AM

who?
Profile Pic
dm9667_23
Champion Author Pennsylvania

Posts:1,595
Points:500,995
Joined:May 2008
Message Posted: Mar 6, 2013 8:57:34 AM

Hugo bye bye
Profile Pic
TXRanger09
Champion Author Dallas

Posts:3,336
Points:1,107,195
Joined:May 2009
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.
Profile Pic
Seamus4513
Champion Author Orange County

Posts:4,261
Points:715,040
Joined:Mar 2012
Message Posted: Mar 6, 2013 8:55:54 AM

Whatever
Profile Pic
humblepie
Champion Author Toledo

Posts:48,688
Points:2,703,740
Joined:Mar 2006
Message Posted: Mar 6, 2013 8:45:52 AM

rih hugo you twit
Profile Pic
xgojim
Champion Author Michigan

Posts:1,421
Points:750,105
Joined:Mar 2011
Message Posted: Mar 6, 2013 8:44:36 AM

Wonder what the power vacuum will bring to Venezuela.
Post a reply Back to Topics