Venezuela

Skepticism Surrounds Big Days on Wall Street

The past 36 hours should have been a moment of unbridled celebration for cheerleaders of American capitalism, as the Dow Jones Industrial Average had two successive record-breaking closes, and Hugo Chávez died after a two-year illness.

Oil Prices Hit 8-Month Low as Spain Optimism Fade

The price of oil hovered above $82 a barrel Tuesday after touching an eight-month low near $81 earlier in the session amid concern Spain's bank bailout won't be enough to stem Europe's debt crisis and suggestions OPEC could boost production targets.

Why Gas Could Hit $5 a Gallon This Summer

If you think you're paying a lot at the gas pump now, just wait until summer hits. Stronger demand could lead to record gas prices as an economic recovery takes hold and turmoil in the Middle East sends the price of oil upward. How high? $5 a gallon isn't out of the realm of the possible.

Gas Prices Around the Globe: The Highs and the Lows

With U.S. gas prices near historic highs, Americans are anxious about the cost of filling up. But we still feel far less pain at the pump than drivers in many other developed nations. On the flip side, if you drive in the right world cities, you can still pay less than $1 a gallon.

BP to Sell Venezuela, Vietnam Assets for $1.8 Billion

BP (BP) will sell a total of $1.8 billion of assets in Venezuela and Vietnam to TNK-BP to raise money to fund the Gulf of Mexico oil spill clean up. TNK-BP, a joint venture between BP and a group of Russian billionaires, will make a $1 billion deposit by Oct. 29 and pay the rest in the first half of 2011, Bloomberg News reported.

Venezuela's Chavez Bans Private Brokerages From Trading Currency

Venezuela%u2019s President Hugo Chavez signed a law Tuesday that bans private brokerages from trading the country%u2019s bolivar currency or public sector dollar-denominated debt. The bill, which had been approved by parliament and only required the president%u2019s signature, restricts brokerages to trading local stocks and securities issued by the private sector, Reuters reported.

Chavez Threatens to Cut Oil Exports to U.S. if Colombia Attacks

Venezuelan President Hugo Chavez threatened to cut off oil exports to the United States if Colombia launches a military attack on his country. Chavez cut off diplomatic relations with Colombia last week over claims by outgoing President Alvaro Uribe that Venezuela harbors Colombian rebels. Chavez says the United States is behind the allegations.

China Lubricates Its Ties With Venezuela

China will provide Venezuela with $20 billion in long-term financing, much of it to help the South American nation develop crude oil reserves. It's another example of how the People's Republic is soaking up energy supplies all around the globe.

Russia pushing for higher crude prices

Russia is one of the largest oil producing nations in the world. The falling price of crude has clearly hurt its economy, but the country has seemed...