As tensions eased between Venezuela and Colombia, oil prices dipped under US$105 a barrel. Over the weekend, Venezuela is reported to be restoring full diplomatic ties with Colombia after they were broken off following a cross-border Colombian attack on a leftist rebel camp in Ecuador.Last week, rebels attacked and shut down a Colombian pipeline that transports 60,000 barrels of oil a day in retaliation for the Colombian raid into Ecuador.
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Monday, March 10, 2008
Oil prices dip under US$105 as tensions ease between Venezuela and Colombia
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