Hurricane Gustav weakens International oil prices plunge overnight

, N.Y., Sept1 (Xinhua) -- "Storm of the Century" Gustav made landfall in the United States, triggering the largest evacuation in Louisiana's history, with about 2 million people evacuated from coastal areasThe hurricane's weakening into a Category 1 hurricane also sent an already overstretched international oil price tumbling overnight, with light crude oil futures on the New York Mercantile Exchange falling as low as $110 a barrel on Monday, up to $8 a barrel from a "moderate lying" Sundayresults were a surprise to analysts who had expected oil prices to jump more than $10Although more than 96 percent of the oil production facilities and more than 82 percent of the gas production facilities in the Gulf of Mexico, the U.Soil-producing region, have been closed and people have been evacuated from most of the rigs and platforms, the local Oil and Gasoline Daily said that "the impact of the hurricane on the oil market was not as severe as expected."industry insiders said that Monday's international oil price slower prices, the hurricane weakened is part lying, more importantly, the strong dollar exchange rate, coupled with the market had expected, the rise in oil prices factors have been digested ahead of timeU.Sstocks reacted strongly to the hurricaneThe three major U.Sindexes all fell on September 1, with the Dow Jones Industrial Average down 170 points, or more than 1.4 percent, in a single day, N.Y., Sept1 (Xinhua) -- "Storm of the Century" Gustav has made landfall in the United States, triggering the largest evacuation in Louisiana's history, with about two million people evacuated from coastal areasThe hurricane's weakening into a Category 1 hurricane also sent an already overstretched international oil price tumbling overnight, with light crude oil futures on the New York Mercantile Exchange falling as low as $110 a barrel on Monday, up to $8 a barrel from a "moderate lying" Sundayresults were a surprise to analysts who had expected oil prices to jump more than $10Although more than 96 percent of the oil production facilities and more than 82 percent of the gas production facilities in the Gulf of Mexico, the U.Soil-producing region, have been closed and people have been evacuated from most of the rigs and platforms, the local Oil and Gasoline Daily said that "the impact of the hurricane on the oil market was not as severe as expected." industry insiders said that Monday's international oil price slower prices, the hurricane weakened is part lying, more importantly, the strong dollar exchange rate, coupled with the market had expected, the rise in oil prices factors have been digested ahead of time U.S stocks reacted strongly to the hurricane The three major U.S indexes all fell on September 1, with the Dow Jones Industrial Average down 170 points, or more than 1.4 percent, in a single day (name)