By Xinhua
New York : Oil fell almost $2 to drop below $87 a barrel Monday as financial markets tumbled on growing concerns over the health of the US economy, triggering a correction from recent record highs.
US light, sweet crude fell $1.90 to $86.70 at 4.14 p.m. GMT after reaching $90.07 all-time high Friday.
US 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.
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