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Oil down near $10 from peak

July 08, 2008

Crude prices dropped more than $5 on Tuesday as Hurricane Bertha posed little threat to U.S. oil operations but gas prices are expected to remain high. The Dow gained 152 points to 11,384. The S&P 500 rose 21 points to 1,273. The Nasdaq surged 51 points to 2,294. Oil settled at $136.04 a barrel in New York trade. Conway Gittens reports from New York.