oil installations

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. Before that, the last time Nymex crude traded below the $100 mark was April 2.

Oil prices closed below US$104 a barrel Tuesday for the first time since early April as traders bet that hurricane Ike would miss critical Gulf Coast oil installations and in Vienna, OPEC's president signalled ...

Oil prices slipped below $104 a barrel Tuesday for the first time since early April as traders bet that Hurricane Ike would miss critical Gulf Coast oil installations and in Vienna, OPEC's president signaled the cartel wouldn't cut production.