Oil prices are falling! Oil prices are falling! But dont run into that bunker just yet, writes Suzanne McGee
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.
Its not a real crash: the world doesnt really need more oil. Much of the drop is Saudi Arabias latest pricing shenanigans in negotiating with Opec.