| Oil prices are falling! Oil prices are falling! But don’t run into that bunker just yet. Oil prices are plummeting. The US price for a barrel of crude has fallen to less than $78 a barrel, the lowest level in years. That comes hard on the heels of a summer-long 25% dip in prices that pushed gas at the pump below $3 a gallon – the lowest level since 2010.
It’s not a real crash: the world doesn’t really need more oil. Much of the drop is Saudi Arabia’s latest pricing shenanigans in negotiating with Opec. A crash in oil prices looks dire. But this may make less difference than you might imagine to your day-to-day finances...............................................Full Article: Source
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