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Oil falls below $99 on low Ike damage
Posted on Sep 15 2008 3:46 AM by
adeal
Filed Under:
Economic data
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International markets
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Oil prices fell below $99 a barrel on Monday after Hurricane Ike inflicted minimal damage to oil installations on the Texas coast. Light, sweet crude for October delivery declined $2.28 to $98.90 a barrel in electronic trading on the New York Mercantile Exchange midafternoon in Singapore. The contract rose 31 cents on Friday to settle at $101.18 after dropping as low as $99.99 per barrel.
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