The President announced that he was lifting the executive ban on offshore drilling and even though the congress still must do the same, it STILL was enough to send oil prices down dramatically. I can see nothing else that happened that would have dropped it.

Think about what would happen if the congress also lifted the offshore ban and if they reversed their recent vote to disallow the drilling for the 2 TRILLION (a couple of HUNDRED YEARS worth) barrels in the rockies.