According to Dow Jones news November 4th, Saudi Arabia accident down pricesfor second consecutive days affect the oil market, as producers did not reduce thesigns of a global oil supply, oil prices fell to three year low America.

Since Saudi Arabia November 3rd cut to USA buyers after oil prices, American oil futures prices have fallen about 4%. Investors believe that this shows that OPEC is unlikely to cut through to reverse the price declines.

Oil prices than in mid June highs has fallen 28%. Due to increased supply(especially in the United States) and weak demand pressure the market.

December New York Mercantile Exchange, light sweet crude oil futures settlementprice of $1.59, to $77.19, the lowest since October 2011 settlement price fell 2%.ICE and Brent crude fell $1.7, to $83.08 a barrel, or 2%.