Oil and gasoline futures dropped Monday on concerns about the economy's health and as investors sold to lock in profits from last week's record-setting rally.
Light, sweet crude for September delivery fell $3.42 to settle at $72.06 a barrel on the New York Mercantile Exchange. The contract has fallen more than $6 from the intraday price record of $78.77 it set last week.
September gasoline was off 10.31 cents to settle at $1.9259 on the Nymex.
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September Oil, Gasoline Continue to Fall
Oil and gasoline futures dropped Monday on concerns about the economy's health