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CNNMoney: Record-breaking oil over $107

Gasoline prices were poised Monday to set a new record at the pump, having surged to within half a cent of their record high of $3.227 a gallon. Oil prices, meanwhile, settled at $107.90, a new inflation-adjusted record and their fifth new high in the last six sessions on an upbeat report on wholesale inventories.

Oil keeps finding new highs

U.S. gasoline prices were poised Monday to set a new record at the pump, having surged to within half a cent of their record high of $3.227 a gallon.

Venezuela to reopen embassy in Colombia

Talk of war in the Andes has faded almost as quickly as it flared -- showing that for all their bluster, none of the three leaders involved could afford a protracted confrontation.

CNNMoney: Oil falls as South American tensions ease

Oil prices were lower Monday as traders booked profits after last week's record highs and amid easing tension between oil producers Venezuela and Colombia over the weekend.

Venezuela resetting diplomatic ties with Colombia

The Venezuelan government on Sunday announced it is re-establishing normal diplomatic ties with Colombia after the two South American countries resolved their differences over Colombia's recent cross-border attack on rebels in Ecuador.

Colombia crisis ends with accord

The presidents of Colombia, Venezuela and Ecuador have signed a declaration to end a crisis sparked when Colombian troops killed a rebel leader and 21 others inside Ecuadoran territory.

Second Colombian rebel leader killed

As South American officials tried to ease tensions sparked by Colombia's killing of a rebel leader inside Ecuador, the Colombian army announced the death of another top militant Friday.

Correa, Uribe, Chavez to meet

A showdown loomed Friday for the presidents of Colombia, Ecuador and Venezuela in this seaside capital, as a summit of Latin American leaders aimed to calm a crisis triggered by a deadly Colombian cross-border raid.

Nicaragua breaks diplomatic relations with Colombia

Nicaragua President Daniel Ortega said Thursday that the nation is breaking relations with Colombia "in solidarity with the Ecuadoran people."

OAS passes resolution on Colombian raid

The Organization of American States passed a resolution Wednesday in hopes of easing tensions stemming from an attack into Ecuadoran territory by Colombia.

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