Ike weakened as it tore across the country as a category one, down from a category three when it made landfall Monday. The storm is being blamed for four deaths.
Beaches in Key West are being battered by winds and heavy rain with high surf washing over beaches and into some streets. Hurricane Ike's next hit could come later this week along the gulf coast, which is still recovering from Gustav.
Landfall is expected in Texas, but its path is also headed toward Louisiana. FEMA officials said it's too early to call for gulf coast evacuations.
Oil prices dropped Tuesday as the threat of Ike eases in the gulf. Light, sweet crude oil dropped in e-trading today. Current forecasts for Ike show the storm on track to miss oil and gas platforms in the Gulf of Mexico.
Oil prices have plunged nearly 30 percent after getting close to $150 dollars a barrel in July.