Friday, May 23, 2008

Oil prices rebound in Asia after tumbling from record on strengthening dollar (Oil-Prices)

BANGKOK, Thailand _ Oil prices found support Friday in Asia in worries that supply can`t keep up with growing global demand, after tumbling around US$4 overnight from a record above US$135 a barrel.The July contract for light, sweet crude on the New York Mercantile Exchange rose to a record US$135.09 a barrel in electronic trade on Thursday, but then fell back sharply to settle at US$130.81 in the later floor session as the dollar strengthened and gave some investors reason to sell oil futures t