Crude Oil Falls More Than $5 a Barrel
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

Crude oil fell more than $5 a barrel, the biggest decline in three months, as signs that the global economy may slow prompted investors to sell commodities.
Oil in New York has dropped more than $9 since reaching a record $145.85 a barrel on July 3. Gold, silver, copper, and corn also declined. The American economy has sagged amid credit-market and housing slides. Contracts to buy previously owned homes fell more than forecast in May, signaling prices have yet to bottom.
“All the bad economic news is making people take a second look at commodities,” the president of Strategic Energy & Economic Research in Winchester, Mass., Michael Lynch, said.