Venezuelan president says oil prices to continue to rise

Venezuelan President Hugo Chavez said on Thursday that he expected world oil prices to continue to rise,saying 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.

"It's a threat. And they're making plans against Venezuela," he said.

Chavez reiterated that Venezuela would cut its oil sales to the U.S. if Washington were to launch an invasion, which could lead to a sharp rise of the oil prices, possibly at 100 U.S. dollars per barrel.

Venezuela, the world's fifth-largest oil exporter, is a major supplier of fuel to the United States despite tensions between the two countries.

Source:Xinhua