ManagementOil prices fall to $71 in opening trade
Oil prices fell to near $71 a barrel today in Asia, giving up part of the previous day"s big gains, as the US dollar rebounded.
Benchmark crude for November delivery was down 49 cents at $71.20 by midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added $2.12 to settle at $71.69 yesterday.
"There hasn"t been a strong signal that the economy is recovering," Chu said. "There are still job losses every month."