Crude oil prices slipped on expectation that Hurricane Wilma will miss oil facilities in the Gulf of Mexico, as it accelerated toward Florida. After moving slowly through the Caribbean and along the Mexico coast, Wilma picked up speed and strength, shooting toward the U.S. mainland as a Category 3 storm. It was expected to make landfall before dawn Monday in the state's southwest corner on the Florida coast Monday with 185-kph (115-mph) winds. The hurricane had sent large swells into the Gulf of Mexico, forcing several operators to evacuate workers and shut down platforms. At least four companies operating in the U.S. Gulf evacuated nonessential workers and shut down production platforms ahead of the weekend. With the latest shutdowns, more than half of oil and gas production remains off line in the aftermath of recent hurricanes. Midmorning in Singapore, light, sweet crude for December delivery on the New York Mercantile Exchange slipped to US$60.00 a barrel .
24-Oct-05 
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