Oil drops below $100

Crude oil futures retreated on Friday and briefly dipped below $100 a barrel for the first time since April 2 despite Hurricane Ike's threat to the Texas Gulf Coast and the region’s energy infrastructure. Brokers and analysts said concerns about a slowing economy and curbed oil demand and expectations that Ike will not be quite as strong as it was feared helped limit the impact of Ike on oil markets. US light crude delivery for October crude was down 60 cents, or 0.6%, at $100.27 per barrel, trading from $99.99 to $102.89. Crude futures fell to $99.84 on April 2. London Brent was quoted at $97.