Wednesday Oil Prices Dropped Sharp

Crude oil prices dropped sharply on Wednesday after rising because of the prospect of OPEC to pump more crude despite the terrorism in Saudi Arabia, and irrespective of OPEC?s decision which they are going to take today in Beirut on the conference.
At New York Mercantile Exchange oil futures fell $2.37 a barrel for July delivery, and closed at $39.96 a barrel.
Tuesday, the crude price climbed to a new record high of $42.33 a barrel as traders reacted to the sudden violence in Saudi Arabia over the holiday weekend.
In the opinion or Qatari oil minister Abdulla bin Hamad al-Attiya, a quota increase was the best course.