Oil fell almost 2 dollars to below 87 dollars a barrel on Monday as financial markets tumbled on growing concerns over the health of the U.S. economy, triggering a correction from recent record highs.
U.S. light, sweet crude fell 1.90 dollars to 86.70 dollars at 12:14 a.m. EDT (1614 GMT) after reaching 90.07 dollars all-time high on Friday.
U.S. oil has rallied more than 10 percent since Oct. 8, climbing towards the inflation-adjusted high of 101.70 dollars hit in April 1980, a year after the Iranian revolution.
Source: Xinhua
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