Crude Oil Prices Decline from Thursday’s Records

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rude oil prices fell Friday after weather forecasters said Hurricane Katrina may stay to the eastern side of the Gulf of Mexico as it heads north toward the Gulf Coast, Bloomberg reported.

Benchmark light sweet crude oil futures fell $1.36 to $66.13 a barrel on the New York Mercantile Exchange, Bloomberg said.

Crude prices had hit all-time high and all-time high closing prices Thursday, at $68 and $67.49 a barrel, respectively.

CNN reported Friday that some gulf oil rigs were preparing to evacuate workers because of Katrina’s uncertain forecast. There are about 4,000 oil rigs and platforms in the gulf, the network reported.

Katrina strengthened to a Category 2 hurricane Friday after moving across South Florida, leaving roads flooded and killing four people.

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