Nicaraguan supporters of Venezuelan President Hugo Chavez pray for the health of Chavez in Managua on February 29, 2012. - 

Global oil markets are steady this morning after the death of Venezuelan President Hugo Chavez. Venezuela holds the world's second largest oil reserves.

For more on the economic impact of Chavez's death, Marketplace Morning Report host Jeremy Hobson speaks with the BBC's Irene Caselli in Caracas.