Deadly Venezuela Blast Destroys Homes, Businesses

authorities in venezuela are continuing to investigate today because of the deadly explosion at an oil refinery on saturday more than forty people were killed in this incident eighty others injured and more than two hundred forms homes damaged in the blast and fire that followed venezuelan president hugo chavez is rejecting suggestions the refinery's warning system failed the people living nearby reported this mall the strong smell of gas days before the explosion which may have indicated i believe at the plant that is part of the investigation now in the wake of the disaster though venezuelan authorities have shut down the refinery and that is having a bearing and along with some other factor is on the price of oil today it's buying back today as we begin with but we will talk about how isaac's its end of this of course that tropical storm storm gathering of hurricane strength but start with that venezuelan venezuela refinery and the impact that attack yes it's the second largest refinery in the world producing close to two million barrels of oil of outside of gasoline a day from oil and so it's a big one and is affecting the price of oil the biggest spike in oil has jumped up in the last week in the biggest of this time in power or four months and there you see the price of oil per barrel was down below eighty dollars this is reasonably secure and so it's been i'm coming up very strongly and like i said and now with the...