NYMEX crude for May delivery soared during Monday's electronic trading to a fresh peak of $58.28 a barrel -- the highest front-month oil futures price on record. That spike in prices put added pressure on producer cartel OPEC to increase supplies, before profit-taking by speculators drove oil futures prices into negative territory.
NYMEX May crude ended the day down 26 cents at $57.01 a barrel. London's IPE May Brent crude slipped 28 cents to $56.23 a barrel.
Among stocks gaining were those sensitive to high oil prices, such as retailers that rely on consumer spending power. Wal-Mart Stores Inc. rose 42 cents to $49.41.