Oil prices dropped Monday, retreating from a record surge late last week, and traders said the market would remain choppy amid jitters about supplies, growing global demand and a weak dollar.
Crude futures made their biggest single-day jump ever Friday, soaring nearly $11 for the day to $138.54 a barrel, a rise of more than 8 percent that battered stocks on Wall Street.
That came after an increase Thursday of almost $5.50, taking oil futures more than 13 percent higher in just two days, easily a record on the New York Mercantile Exchange.
