Oil retreated below a barrel on Monday in volatile trade that saw it briefly hit an all-time high earlier in the session. United States light crude, down more than at one point, rallied to a new record of ,40 a barrel, but by 4.17pm GMT it was ,04 down at ,92. London Brent crude futures, whose nearby contracts have moved into contango, fell ,78 down to ,62.
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/ 28 December 2007
World oil traded near $97 a barrel in Asia on Friday, its highest level in a month, following the assassination of Pakistani opposition leader Benazir Bhutto, dealers said. They said the rise in prices was also supported by a United States report showing a higher-than-expected drop in US crude stockpiles.