Benchmark crude for July delivery dropped $1.09 to $70.28 a barrel on Friday in light trading on the New York Mercantile Exchange as the contract was set to close Monday.
The August contract fell $1.18 to $70.73 a barrel.
The slump in crude came as gasoline markets showed the first signs this week that an extended rally in pump prices is nearing an end after 52 straight days of price increases.
Gasoline for July delivery fell 6.85 cents Friday to $1.9610 a gallon.
Crude prices have doubled their value in three months, hitting a high for the year of $73.23 a barrel last week.....Complete Story
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