Oil Prices Eased From the Record

Oil prices retreated Friday from a record of $111 a barrel hit in the previous session as investors fled the declining dollar in search of a haven in commodities.

Analysts attributed the decline as part of the volatility that has characterized crude futures trading in recent weeks.

Light, sweet crude for April delivery dropped 58 cents to $109.75 a barrel in Asian electronic trading on the New York Mercantile Exchange by midday in Singapore.