USD 80.5268

-0.16

EUR 93.3684

-1.09

Brent 66.42

-0.27

Natural gas 2.801

-0.01

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Chavez: Oil Prices Hike Caused By Bush Policy

Hugo Chavez said on Thursday that he expected world oil prices to rise

Chavez: Oil Prices Hike Caused By Bush Policy

Venezuelan President Hugo Chavez said on Thursday that he expected world oil prices to continue to rise because of the policy U.S. President George W. Bush's policies contribute to oil price hikes.

"Every time Bush speaks, the price of oil goes up one dollar," Chavez told a press conference during his visit to Rome. "Bush should remain in his ranch and be silent."

Chavez added that he mainly blamed Bush, who he said should be "taken in front of an international court for genocide" for the war in Iraq.

The Venezuelan president again accused the United States of preparing an attack against his country, expressing concern about U.S. naval exercises now underway in the Caribbean.

Chavez reiterated that Venezuela would cut its oil sales to the U.S. if Washington were to launch an invasion.

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