Oil just slipped below $80 — and it’s expected to fall further

Yay, expect to see rapid price drops at the pumps in reaction to the oil price drop. Oil companies always react quickly to changes in oil prices.

Oil prices were plummeting again on Monday, slipping below US$80 dollars per barrel as worries mount about too much oil finding too few buyers over the next several months or longer.

Monday’s sell-off was triggered by fresh estimates from a big Wall Street bank suggesting oil prices will continue their free fall into winter, landing eventually in the mid-$70 range through the first half of next year.

READ MORE: http://globalnews.ca/news/1637465/oil-just-slipped-below-80-and-its-expe...