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Author	Topic: Little reaction in oil market to Chavez death	Post a Reply Back to Topics

xgojim All-Star Author Michigan Posts:522 Points:450,130 Joined:Mar 2011	Message Posted: Mar 6, 2013 8:42:58 AM Ignore xgojim Report Abuse 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

xgojim

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

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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 All-Star Author New York Posts:823 Points:170,730 Joined:Nov 2012	Message Posted: Mar 7, 2013 8:21:10 AM Ignore endymion Report Abuse 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.
CdnLynx Champion Author Ontario Posts:1,020 Points:523,005 Joined:May 2008	Message Posted: Mar 7, 2013 2:00:48 AM Ignore CdnLynx Report Abuse 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]
A_NY_Outlaw Champion Author Albany Posts:1,370 Points:703,880 Joined:Mar 2011	Message Posted: Mar 6, 2013 9:50:56 PM Ignore A_NY_Outlaw Report Abuse No reaction yet, however anyone who thinks this will keep prices unchanged or in check is simply naive.
PathfinderSC Champion Author South Carolina Posts:9,511 Points:1,829,665 Joined:Mar 2008	Message Posted: Mar 6, 2013 8:35:23 PM Ignore PathfinderSC Report Abuse Why should anyone death have any reaction on our oil prices ?
mike56MI Champion Author Michigan Posts:1,210 Points:306,390 Joined:Aug 2011	Message Posted: Mar 6, 2013 5:47:13 PM Ignore mike56MI Report Abuse OK
YumaFellow Champion Author Arizona Posts:1,280 Points:620,645 Joined:Jan 2011	Message Posted: Mar 6, 2013 1:36:25 PM Ignore YumaFellow Report Abuse With Chavez in declining health for some time, I suspect the markets had already factored in some uncertainty after his death.
MadFueler All-Star Author Winston-Salem Posts:912 Points:170,560 Joined:Sep 2012	Message Posted: Mar 6, 2013 1:28:48 PM Ignore MadFueler Report Abuse 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.
hrtdi All-Star Author Vermont Posts:757 Points:149,640 Joined:Dec 2012	Message Posted: Mar 6, 2013 11:34:44 AM Ignore hrtdi Report Abuse they contain it......but i'm sure they're partying right now!!!
Buckeyee Champion Author Maine Posts:4,597 Points:897,805 Joined:May 2010	Message Posted: Mar 6, 2013 10:53:25 AM Ignore Buckeyee Report Abuse 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 !!
HoosierDaddyKY Champion Author Kentucky Posts:1,262 Points:295,210 Joined:Dec 2011	Message Posted: Mar 6, 2013 10:41:07 AM Ignore HoosierDaddyKY Report Abuse 'Hmmm, Very interestink' said Colonel Klink!
vwilsonskis All-Star Author New Jersey Posts:732 Points:236,270 Joined:May 2011	Message Posted: Mar 6, 2013 10:31:37 AM Ignore vwilsonskis Report Abuse doesn't Venezuela have the lowest gas prices in the world????
abacus44 Champion Author Toms River Posts:3,475 Points:747,515 Joined:Jan 2011	Message Posted: Mar 6, 2013 10:07:36 AM Ignore abacus44 Report Abuse One down, .....
CorvairHaven Champion Author Cleveland Posts:4,349 Points:1,452,215 Joined:Sep 2008	Message Posted: Mar 6, 2013 10:07:05 AM Ignore CorvairHaven Report Abuse I suppose that's a good thing?
Van_Halen Champion Author Atlanta Posts:2,844 Points:640,255 Joined:Apr 2011	Message Posted: Mar 6, 2013 9:40:51 AM Ignore Van_Halen Report Abuse . As if it was Chavez that controlled oil prices and NOT OPEC! Can one get more stupid then CBS?!
WestDriver All-Star Author Grand Rapids Posts:679 Points:546,520 Joined:Oct 2006	Message Posted: Mar 6, 2013 9:32:14 AM Ignore WestDriver Report Abuse That's nice to hear for gasoline and petroleum products. Their oil is excellent for gasoline, so really nice to hear.
cdrrod Champion Author Wisconsin Posts:4,144 Points:781,825 Joined:Feb 2006	Message Posted: Mar 6, 2013 9:30:53 AM Ignore cdrrod Report Abuse Wonder if he will be buried in the oil fields...
MrDeath666 Champion Author Houston Posts:1,606 Points:242,240 Joined:Sep 2012	Message Posted: Mar 6, 2013 9:28:26 AM Ignore MrDeath666 Report Abuse Only people like Obama get upset when an evil Socialist dies.
JamesCalvin Champion Author Lancaster Posts:3,176 Points:517,505 Joined:Nov 2011	Message Posted: Mar 6, 2013 9:22:41 AM Ignore JamesCalvin Report Abuse LOL!
amoshins Champion Author Trenton Posts:2,185 Points:639,595 Joined:Apr 2011	Message Posted: Mar 6, 2013 9:20:05 AM Ignore amoshins Report Abuse It will be interesting to see how the oil market will react to Chavez's successor...I doubt there will be little reaction there
Buck_on_Bass Champion Author Tennessee Posts:7,569 Points:1,454,335 Joined:Jul 2007	Message Posted: Mar 6, 2013 9:10:36 AM Ignore Buck_on_Bass Report Abuse 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.
USMCturtlehead Champion Author Lexington Posts:1,975 Points:101,750 Joined:Feb 2013	Message Posted: Mar 6, 2013 9:06:48 AM Ignore USMCturtlehead Report Abuse Should have been big celebration and drop the prices of oil.
bsnort Veteran Author Huntsville Posts:419 Points:232,880 Joined:Aug 2012	Message Posted: Mar 6, 2013 9:04:56 AM Ignore bsnort Report Abuse i'm sure a lot of former business owners down there are happy - maybe now they can reclaim their business back from the govt........................
Evilmaddog Champion Author British Columbia Posts:3,312 Points:955,600 Joined:Aug 2010	Message Posted: Mar 6, 2013 9:04:09 AM Ignore Evilmaddog Report Abuse that's surprising... for any excuse will do
investmentdr Champion Author Cleveland Posts:4,019 Points:1,453,100 Joined:Sep 2008	Message Posted: Mar 6, 2013 9:03:36 AM Ignore investmentdr Report Abuse who?
dm9667_23 Champion Author Pennsylvania Posts:1,208 Points:350,945 Joined:May 2008	Message Posted: Mar 6, 2013 8:57:34 AM Ignore dm9667_23 Report Abuse Hugo bye bye
TXRanger09 Champion Author Dallas Posts:2,502 Points:890,220 Joined:May 2009	Message Posted: Mar 6, 2013 8:56:05 AM Ignore TXRanger09 Report Abuse But had Hugo had re elected himself, again, how would the market have reacted? I think you know.
Seamus4513 Champion Author Orange County Posts:2,573 Points:384,630 Joined:Mar 2012	Message Posted: Mar 6, 2013 8:55:54 AM Ignore Seamus4513 Report Abuse Whatever
humblepie Champion Author Toledo Posts:34,147 Points:2,369,420 Joined:Mar 2006	Message Posted: Mar 6, 2013 8:45:52 AM Ignore humblepie Report Abuse rih hugo you twit
xgojim All-Star Author Michigan Posts:522 Points:450,130 Joined:Mar 2011	Message Posted: Mar 6, 2013 8:44:36 AM Ignore xgojim Report Abuse Wonder what the power vacuum will bring to Venezuela.