mobil cut
Oil prices fall after spiking on Venezuela threats to cut off oil sales to US - International Herald Tribune
Business with Reuters
iht.comBusinessCultureSportsOpinion
AMERICASEUROPEASIA/PACIFICAFRICA/MIDDLE EAST TECH/MEDIASTYLEHEALTH
TRAVELPROPERTIESBLOGSDISCUSSIONSSPECIAL REPORTSAUDIONEWS
Morning home delivery - save up to 65%
SEARCH
AdvancedSearch
Oil prices fall after spiking on Venezuela threats to cut off oil sales to US
The Associated Press
Published: February 11, 2008
E-Mail Article
Listen to Article
Printer-Friendly
3-Column Format
Translate
Share Article
Text Size
SINGAPORE: Oil prices fell Monday, retreating after spiking to almost US$93 a barrel on Venezuelan President Hugo Chavez's threat to cut off oil sales to the United States in retaliation for legal moves by Exxon Mobil Corp. to seize some of his country's assets.
Light, sweet crude for March delivery lost 37 cents to US$91.40 a barrel in Asian electronic trading on the New York Mercantile Exchange by late afternoon in Singapore, after earlier rising as high as US$92.71 a barrel in the after-hours session.
The spike came after Chavez on Sunday accused the Irving, Texas-based oil company of acting in concert with Washington, and vowed that "the outlaws of Exxon Mobil will never again rob us."
Exxon Mobil has gone after the assets of Venezuelan state oil company Petroleos de Venezuela SA in U.S., British and Dutch courts in challenges to the nationalization of a multibillion dollar oil project by Chavez's government. A British court has issued an injunction "freezing" as much as US$12 billion (Ђ8.3 billion) in assets.
"If you end up freezing (Venezuelan assets) and it harms us, we're going to harm you," Chavez said, turning his words to U.S. President George W. Bush. "Do you know how? We aren't going to send oil to the United States. Take note, Mr. Bush, Mr. Danger."
Today in Business with Reuters
Plastic-bottle scare is a boon for some
Ericsson shares soar on first-quarter results
TCI rejects Japan's recommendation on J-Power stake
The March contract on Friday had jumped US$3.66 to settle at US$91.77 a barrel amid other supply concerns.
Crude rose on word that oil exports from Nigeria, Africa's biggest oil producer and a major U.S. supplier, could fall by as much as 1 million barrels a day due to the nation's deteriorating security situation and planned maintenance. Nigeria is locked in a long-running battle with rebels intent on hurting the nation's oil industry infrastructure.
Still weighing on crude futures, however, were fears of a U.S. recession, which would dampen oil demand. Investors on Friday found reason to hope that the U.S. economy will dodge a serious downturn as Congress approved a rescue plan designed to put government money in the hands of American shoppers to revive the flagging economy.
Heating oil futures rose 0.57 cent to US$2.5598 a gallon (3.8 liters) while gasoline prices added 0.28 cents to US$2.36 a gallon.
Natural gas futures gained 14.4 cents to US$8.445 per 1,000 cubic feet.
Brent crude fell 46 cents to US$91.48 a barrel on the ICE Futures exchange in London.
Back to top
Home > Business with Reuters
IHT.com Home »
Latest News
Sally McCoy for The New York Times
Plastic-bottle scare is a boon for some
Canada's decision to label as toxic a chemical that is used to make a popular form of plastic has created headaches for some bottle makers but it may prove a bonanza for others.
In Opinion: The letters of men of letters
More Headlines
McCain faults Bush response to Hurricane Katrina
A Serbian heroine steps into politics
Italian town hopes Padre Pio's body brings legion of faithful - and their wallets
Poland calls for stronger EU military
Video
See all videos »
Dollar rebound boosts stocks
U.S. stocks moved higher on Thursday after a rebound in the dollar lifted the broader market and strength in A...
US housing woes deepen
The median price of a new home fell more than 13 percent, the largest drop since 1970.
Paulson sees no food shortage in US
Treasury Secretary Paulson said while food prices may be rising higher, there are no shortages of food.
Further poor bank numbers
Barclays profits take a hit, Credit Suisse announces $5billion writedown and RBS could take a $12 billion hit
Stocks rally despite consumer fears
Investors tried to cast aside fears of a consumer-induced economic slowndown as results from retailers and foo...
Second Life gets Organic CEO
Linden Lab founder Philip Rosedale explains why he has chosen online marketing executive Mark Kingdon to succe...
Rice price rockets
Rice risks becoming a luxury in the face of soaring prices - threatening pinched budgets in the West but starv...
Swap shop - for designer clothes
Fashion-conscious Berliners head to the ultimate second-hand shop where they can swap their old clothes for ot...
Nintendo doubles profit on Wii, DS
Nintendo's profit more than doubled last year on red-hot demand for its Wii and DS game machines.
China stocks soar, Japan lower
Shanghai market boosted after government cuts trading tax
Most E-Mailed
24 Hours
|
7 Days
|
30 Days
1.
The need for unanimity in China exacts a hidden price
2.
India's kinder, gentler debt collectors remind Americans to pay their bills
3.
Remains of Padre Pio, beloved mystic Italian monk, go on display
4.
A hard plastic is raising hard questions
5.
A Serbian heroine steps into politics
6.
U.S. Jews get a new voice in Washington
7.
Hotelier's passion for Persia given free rein on Iranian island
8.
As the price of rice rises, some traditions die
9.
Hookah bars in Paris fight smoking ban
10.
Fighting Taliban with better governance, not just arms
1.
Toxicity alert has some in U.S. discarding plastic bottles
2.
U.S. prison population dwarfs that of other nations
3.
New rules for expats in China
4.
In lean times, biotech grains are less taboo
5.
Europeans switching back to coal
6.
Russia embraces its church, distancing western faiths
7.
Professor Happiness: The interview
8.
Aboriginal musician astonishes Australian audiences
9.
Mom's diet may play role in whether baby is boy or girl
10.
Cohen: Of wine, haste and religion
1.
U.S. housing collapse spreads overseas
2.
Try this headline: Black Hole Eats Earth
3.
As Australia dries, a global shortage of rice
4.
Alice Rawsthorn: Brand Obama, a leader in the image war
5.
Toxicity alert has some in U.S. discarding plastic bottles
6.
More U.S. flight delays loom as safety reviews expand
7.
U.S. prison population dwarfs that of other nations
8.
An ancient town in Laos grapples with modernity
9.
New rules for expats in China
10.
Cohen: The baton passes to Asia
iht.com/f1
F1 qualifying to be modified for safety reasons
More from Formula 1:
At Renault, Alonso returns to his roots
Aspiring engineers on mini track to a Grand Prix career
A youthful fascination with Grand Prix racing
Blogs: Managing Globalization
Join the IHT's Daniel Altman in a lively discussion of the day's economic news with an eye on globalization.
Search
News:
Americas
|
Europe
|
Asia - Pacific
|
Africa & Middle East
|
Technology & Media
|
Health & Science
|
Sports
Features:
Culture
|
Fashion & Style
|
Travel
|
At Home Abroad
|
Blogs
|
Reader Discussions
|
Weather
Business:
Business with Reuters
|
World Markets
|
Currencies
|
Commodities
|
Portfolios
|
Your Money
|
Funds Insite
Opinion:
Opinion Home
|
Send a letter to the editor
|
Newspaper Masthead
Classifieds:
Classifieds Home
|
Properties
|
Education Center
Company Info:
About the IHT
|
Advertise in the IHT
|
IHT Events
|
Press Office
Newspaper:
Today's Page One in Europe
|
Today's Page One in Asia
|
Publishing Partnerships
Other Formats:
IHT Mobile
|
RSS
|
AudioNews
|
PDA & Smartphones
|
Netvibes
|
IHT Electronic Edition
|
E-Mail Alerts
|
Twitter
More:
Daily Article Index
|
Hyper Sudoku
|
IHT Developer Blog
Subscriptions
Sign Up | Manage
Contact Us
|
Site Index
|
Archives
|
Terms of Use
|
Contributor Policy
|
Privacy & Cookies
Copyright © 2008 the International Herald Tribune All rights reserved
разделы
диспетчеризация
прамышленый альпинизм
vps vds
metrobond
электропечь dimplex model elba
зубной камень
предохранитель пкн
медикаментозный прерывание беременность
измеритель петля фаза нуль
корпоративный обслуживание
мини пекарня
электромонтажный стол
измерительный комплекс к2-79
папиллома
валерий билет
помещение шиномонтаж
срок реализация рак
телематические служба
детский гинеколог
neri karra кожгалантерея
этнический психология
автобетононасосы
антиобледенительные система
цвет ламината класс 32
съемный зубной протез
туба машина
фосфорецирующая краска
госпиталь мэш
купить джойстик
подбор контрацепция
силуэт слимент лифт
индустриальный монитор
поглощение радиоволна
вино заказ
5440.13 (крышка)
thuraya sg 2520
хосе карерас билет
метрореклама нижнийновгород
fargo
кислородный концентратор
отбеливание
mobil cut