Energy Futures Fall Again

Updated from 1:31 p.m. EDT

Crude futures fell to a three-week low Monday on growing concern that Hurricane Katrina's negative economic impact could dampen fuel demand in the U.S.

The contract, which has fallen in four of the previous five sessions and lost 5% last week, closed down another 74 cents to $63.34 a barrel on Nymex. Gasoline futures dropped 9 cents to $1.87 a gallon, leaving them 36% below the all-time high of $2.92 a gallon reached on Sept. 1.

As Katrina's economic and human toll continues to climb, many economists have begun shaving their estimates of economic growth in the U.S. this year. Generally, the reductions have been about half a percentage point, reflecting the ripple effect of the storm's impact. ...