Oil falls below $108 as traders mull bailout plan
SINGAPORE (AP) -- Oil prices fell below $108 a barrel Tuesday in Asia in a choppy market driven by uncertainty about whether a $700 billion U.S. plan to buy bad mortgage debt will stabilize the financial system.
Oil prices had surged Monday in volatile trading, spiking more than $25 a barrel at one point, as investors fled to oil amid unease about the mammoth bailout plan.
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