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  • Oil Surges, Closes at Record High on US Supply Drop Wednesday, 5 Mar 2008 | 3:12 PM ET
    Oil Pipeline

    Oil surged Wednesday, rising a remarkable $5 a barrel to a new record over $104 after the government reported a surprise drop in crude oil stockpiles and OPEC held production levels steady.

  • $100.01 … Now What? Tuesday, 19 Feb 2008 | 6:29 PM ET

    Even a supply surplus and falling demand are no match for oil’s momentum. As crude sets a new record close, commodity veteran Addison Armstrong gives his short and long-term views.

  • Exxon Flap Illuminates Brittle US-Chavez Ties Friday, 15 Feb 2008 | 3:06 PM ET
    Gas Pump

    An escalating battle with Exxon highlights the growing rift between the U.S. and Venezuela, which is likely to continue even after President Bush leaves the  White House.

  • Venezuela Ups "Ante" With Oil Cut Backs To Exxon Wednesday, 13 Feb 2008 | 4:05 PM ET

    Venezuela's state-owned oil company PDSVA says it's cutting off supplies to ExxonMobil. Most traders I talk to think it's all talk from President Hugo Chavez while he tries to save face as the legal battle between his country and the oil giant has gone Exxon's favor so far.

  • For Exxon, More Is at Stake than Venezuelan Oil Wednesday, 13 Feb 2008 | 3:31 PM ET

    With more of the world's most valuable natural resources under the control of national governments, Exxon likely believes it has no other choice than to stand firm in its escalating battle with Venezuela.

  • Venezuela Needs the United States, Too Wednesday, 13 Feb 2008 | 11:38 AM ET

    Venezuela needs US refineries as much as we need the oil.The bulk of Venezuelan oil into Exxon's U.S. operations goes into its joint venture in Louisiana. Venezuela supplied about 78,000 bpd into the Chalmette refinery in Louisiana last year, according to energy analyst Andy Lipow in Houston.

  • Venezuela Cuts Off Oil Shipments to Exxon Mobil Wednesday, 13 Feb 2008 | 11:34 AM ET
    Hugo Chavez

    Venezuelan President Hugo Chavez stopped oil exports to Exxon Mobil on Tuesday, escalating a multibillion-dollar fight with the U.S. company two days after threatening to cut off all supplies to America.

  • Wednesday Look Ahead: Exxon's Battle Royale Tuesday, 12 Feb 2008 | 8:43 PM ET

    A key piece of economic data, some big earnings reports and a testy fight between Exxon Mobil and Venezuela may influence markets Wednesday.

  • Venezuela Cuts Off Oil Shipments to Exxon Mobil Tuesday, 12 Feb 2008 | 6:47 PM ET
    Hugo Chavez

    Venezuela's state oil company PDVSA has suspended oil exports to Exxon Mobil in retaliation for the freezing of billions of dollars of Venezuelan assets in a legal fight with the U.S. oil giant.

  • Venezuela Softens Tone on Threat to Cut US Oil Tuesday, 12 Feb 2008 | 2:33 PM ET
    Oil Pump

    Venezuela softened its tone on Tuesday over a threat to stop oil sales to America, with a top official saying a supply cut would be undesirable a day after world oil prices rose due to President Hugo Chavez's warning.

  • Venezuela Minister Ready to Halt Oil Exports: Paper Tuesday, 12 Feb 2008 | 10:12 AM ET

    Venezuela is "ready" to cut off oil supplies to the United States, Energy Minister Rafael Ramirez was reported as saying in a newspaper interview published Tuesday.

  • Venezuela Wants to Avoid US Oil Cutoff: Official Tuesday, 12 Feb 2008 | 9:50 AM ET
    Hugo Chavez

    Halting Venezuelan oil exports to the United States is possible, but would be undesirable and costly, a top official in the OPEC nation said Tuesday, a day after oil prices rose on a threat by President Hugo Chavez.

  • Tuesday Look Ahead: All Eyes on GM Monday, 11 Feb 2008 | 7:38 PM ET

    Stocks rode higher Monday ahead of General Motors' Tuesday earnings report, so you can bet it will be a big feature of Tuesday morning's trading.

  • Chavez Threatens to Seize Foreign Milk Plants Monday, 11 Feb 2008 | 3:17 PM ET

    Venezuelan President Hugo Chavez on Sunday threatened to seize milk plants owned by Switzerland's Nestle and Italy's Parmalat if they muscled state producers out of the market.

  • Venezuela Moves Bank Accounts After Exxon Freeze Monday, 11 Feb 2008 | 3:13 PM ET
    Hugo Chavez

    Venezuela has begun moving oil revenue into Swiss banks to avoid a possible seizure of funds by Exxon Mobil in a legal tussle that pits leftist anti-U.S. President Hugo Chavez against America's biggest company.

  • Chavez Says May Halt Oil Supplies Over Exxon Fight Sunday, 10 Feb 2008 | 4:19 PM ET
    (AP Photo/Donna McWilliam)

    President Hugo Chavez Sundaywarned he would halt oil supplies to the United States if it continued to attack Venezuela as he said it had done with an Exxon Mobil lawsuit freezing assets of the OPEC nation.

  • Venezuela Decries 'Judicial Terrorism' From Exxon Friday, 8 Feb 2008 | 3:48 PM ET
    (AP Photo/Donna McWilliam)

    Venezuela's top oil official accused Exxon Mobil of "judicial terrorism," but said court orders won by the oil major do not amount to confiscation of $12 billion in assets.

  • Courts Freeze $36 Billion in Venezuela Oil Assets Thursday, 7 Feb 2008 | 3:41 PM ET
    (AP Photo/Donna McWilliam)

    Exxon Mobil has moved to freeze up to $36 billion in Venezuelan assets around the world as the U.S. company fights for payment in return for the state's takeover of a huge oil project last year.

  • Exxon, Chevron Earnings Soar on Record Oil Prices Friday, 1 Feb 2008 | 11:46 AM ET

    Exxon Mobil posted the highest-ever quarterly and yearly profits by a U.S. company, while Chevron said its fourth-quarter earnings rose 30 percent.

  • OPEC Leaves Oil Production Unchanged Wednesday, 5 Dec 2007 | 10:22 AM ET
    Abu Dhbai

    OPEC agreed on Wednesday to keep exports unchanged, rebuffing consumer country calls for more crude to rein in $90-a-barrel oil.