Oil drops in Asia after record rally

Courtesy Topix - Business News  Mon, 06/09/2008 - 13:43

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...


 

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