Reply #23: Stupid Wire Agency Tricks... Oil Drop As Oil Assets Not In Path Of Emily

[althecat]

http://quote.bloomberg.com/apps/news?pid=10000006&sid=a3Tvyjm5g5m8&refer=home

N.Y. Oil Plunges as Hurricane Emily Forecast to Miss Gulf Rigs
July 14 (Bloomberg) -- Crude oil in New York fell the most in more than two weeks as Hurricane Emily was forecast to miss Gulf of Mexico platforms and production from the region recovered from the shutdowns Hurricane Dennis caused last week.

Emily, the fifth named storm of the Atlantic hurricane season, will probably come ashore on Mexico's Yucatan Peninsula, forecasters said. Production in the Gulf rose to 3.6 percent below normal, the Minerals Management Service said. Speculation that Emily might shut platforms prompted some traders to take long positions, or bets prices would rise.