Oil prices drop below US$127 a barrel, extending decline of more than US$3 in previous session
Oil prices dropped below US$127 a barrel Wednesday, extending a decline of more than US$3 in the previous session on a growing sense that soaring prices have cut demand for gasoline and other fuel.
Oil prices fell more than $3 a barrel toward the end of a shortened trading session Wednesday after the government reported energy supplies indicating that demand is waning.