Oil prices slip as hurricane threat eases

Oil prices fell back from a record high today after Hurricane Katrina lost strength, lowering the risk that it will disrupt production in the Gulf of Mexico.

Fri, 26 Aug, 2005 - 10:31

Oil prices fell back from a record high today after Hurricane Katrina lost strength, lowering the risk that it will disrupt production in the Gulf of Mexico.

The price of a barrel of US light crude stood just above $67 in New York after hitting a record high of $68 yesterday.

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