Oil prices fell below $100 for the second day after US crude inventories declined by 5.9 million barrels compared with last week when Hurricane Gustav threatened to wreak havoc on oil production around the Gulf of Mexico.
Yesterday, oil fell to $99.56 a barrel - the first time in five months that crude fell below the pyschologically significant $100 a barrel level. Meanwhile New York's main contract, light sweet crude for October delivery, was trading at $104.02.
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