Oil Drifts Lower After Topping $51 a Barrel

By George Jahn

VIENNA -- Oil prices drifted lower Friday after surging above $51 a barrel, as traders reevaluated expectations for renewed crude demand amid persistent uncertainty about the global economy.

Oil prices have jumped from below $35 a barrel last month amid a global stock market rally and easing concerns about the international financial sector.

But oil inventories continue to rise, and there's been scant solid evidence that the fall in crude demand has bottomed out. The outlook for the global economy also remains cloudy, analysts say. ...