•Crude futures were weaker Monday, retreating from all-time highs, with some profit-taking and national holidays on mainland Europe putting the brakes on last week's bull run, market sources said.

•"It is very quiet today," a London-based broker said. "There is a calming down in the market and a holiday across Europe. It seems people are more concerned about the price of oil rather than geopolitical situations at the moment."

• Turkey's armed forces attacked rebel Kurdish positions in northern Iraq Saturday and the Lebanese army deployed throughout Lebanon Sunday as clashes broke out between rival factions in the north and southeast, AFP reported. These situations were not playing into sentiment at this stage or being used as a pretext to test market limits, sources said.

Updated: May 12, 2008