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WASHINGTON — Venezuelan President Hugo Chavez’s latest threat to cut off oil sales to the U.S. produces tantalizing headlines and rattles some oil traders’ nerves.
But analysts say it presents no long-term danger to global oil supplies or prices and makes no economic or political sense for his own country.
Chavez’s threat was in retaliation to Exxon Mobil Corp.’s efforts to freeze assets belonging to Venezuela’s state oil company to resolve a contract dispute.
