Oil prices fall from record highs

NEW YORK -- Crude prices spiked above $102 a barrel for the first time Wednesday, then retreated after the government reported the nation is greased with more oil and gasoline than expected. Light, sweet crude for April delivery fell $1.24 to settle at $99.64 on the New York Mercantile Exchange, after surging as high as $102.08 a barrel in electronic trading earlier. On Tuesday, the contract jumped $1.65 to settle at a record $100.88 a barrel.