Oil Is Falling Again
Stop us if you've heard this one before. Oil is taking a dive today. Already at a six-year low, it's down nearly 3 percent on the day and is danger of dropping below $42 a barrel. Remember it was over $100 last summer.
And it seems that supply continues to expand. U.S. crude inventories probably rose last week, according to a Bloomberg News survey, and the American Petroleum Institute reports that supplies rose by 10.5 million barrels last week.