Oil prices dropped down in the Asian market after two straight days of gains, taking a sign from regional bourses that retreated among expectations of slower U. S. financial growth.

Benchmark crude for the next month delivery remained down 24 cents at $73.12 a barrel at midday Kuala Lumpur time in electronic trading on the New York Mercantile Exchange.

The contract increased 84 cents to settle at $73.36.

However, the rally was short-lived among gloom about the global financial system.

Asian stock markets were frequently weaker on Friday along the lines of Wall Street's overnight declinations.

The United States is hoped revise down financial increase for the second quarter of this year, when it releases an updated GDP report.

While talking to media, an energy analyst at consultancy Purvin and Gertz in Singapore, Victor Shum said, “The pull back in oil is driven by corresponding declines in Asian equity markets. Oil will continue to be under pressure because of general pessimism in the market.”

In his speech, the central Reserve Chairman Ben Bernanke said that investors hope will shed light on how weak the U. S. economy really is and whether the Fed may take more steps to revive it.