Crude oil prices dipped below $100 a barrel in New York today as traders anticipated Hurricane Ike would spare most oil installations in the Gulf of Mexico.
US crude eased to $99.99 a barrel, dropping below the psychological level of $100 for the first time since April 1.
The market action extended a downward trend in recent weeks in anticipation of weaker energy demand after crude hit peaks around $147 a barrel.
London's benchmark Brent crude contract fell below $100 earlier this week.
