Sept. 1 (Bloomberg) -- Crude oil fell, reversing earlier gains, after Hurricane Gustav weakened, easing concern of widespread damage to drilling rigs and refineries.
Gustav has been downgraded to a Category 2 storm, the second-weakest of the five levels of hurricane strength, the National Hurricane Center in Miami said in its latest advisory. Preparations for the storm closed 96 percent of offshore oil production and about 10 percent of U.S. refining capacity.
Equity futures are stll in the red, althouh nothing dramatic, and bonds have a slight bid.
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on Monday, September 01, 2008 at 9/01/2008 09:40:00 AM.
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