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Oil Crashes Nearly $ 2 A Barrel On Saudi's Surprise Output Hike.

Investor's Business Daily

| July 06, 2000 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: By, Investor's Daily

Oil's 6% slide pulled down energy prices across the board Wednesday, with natural gas falling even more precipitously and gasoline and heating oil not far behind. In other commodity markets, platinum and orange juice fell sharply.F U T U R E S Saudi Arabia's far-reaching influence as the world's top oil-producing nation was felt in several trading pits of the New York Mercantile Exchange, where benchmark prices are set for energy products. The immediate impact was on crude oil, which plunged on word from Saudi Arabia thatit may pump another 500,000 barrels a day to cut short the relentless rise in oil prices that could threaten world …

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