Business
Oil Prices Retreat Below $100 After Historic Surge
Oil futures are reversing much of their historic overnight run-up, extending wild trading sparked by the war with Iran.
Benchmark U.S. crude skyrocketed by as much as 31% after futures markets opened Sunday night, surpassing $118 a barrel. But a fast-stabilizing market Monday morning pushed down prices to around $96 a barrel.
Front-month West Texas Intermediate crude remains more than 60% higher than the start of the year.