Please read the article "Oil Prices: What's Behind the Drop? Simple Economics" from New York Time. In the section "Why did the price of oil drop in the first place?", the author explained some reasons for why the oil price dropped. Please interpret these reasons. In the section "Who benefits from the price drop?", the author mentioned that natural gas price has fallen as well. Please use the diagrams we have learned in the class explain why so.

Link:

https://www.dropbox.com/s/ano2caj7zunp5ic/Oil%20Prices_%20What%E2%80%99s%20Behind%20the%20Drop_%20Simple%20Economics%20-%20The%20New%20York%20Times.pdf?dl=0