KUALA LUMPUR, Malaysia (AP) - June 10, 2008
Crude futures pulled back Monday from last week's record highs,
falling $4.19 to $134.35 a barrel on the New York Mercantile
Exchange, after the dollar strengthened and Saudi Arabia voiced
willingness to meet any increase in demand.
Energy analyst Victor Shum in Singapore says the market is
"taking a breather" after the sharp gain last week. But he says
there is still "a strong uptrend" in the oil markets.
Shum says the market remains prone to another spike in price and
even $150 a barrel is possible.
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