Oil Falls Below $100 Per Barrel …First Time Since May

Oil prices dropped eight per cent yesterday falling back below $100 per barrel for the first time since May as some experts warn that prices could fall to as low as $60 per barrel by the end of the year if an economic downturn significantly curtails demand. The price of U.S. benchmark West Texas Intermediate slid roughly eight per cent to trade at around $99 per barrel, while international benchmark Brent crude now sits at just over $103 per barrel. The last time oil traded below $100 per barrel was in early May and although prices rose from there, both…