NEW YORK: Crude oil prices dipped below 100 dollars a barrel in New York on Friday as traders anticipated Hurricane Ike would spare most oil installations in the Gulf of Mexico.

New York’s main contract, light sweet crude for delivery in October, eased to 99.99 dollars a barrel, dropping below the psychological level of 100 dollars 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 dollars a barrel.