Oil flunks to under $80 a barrel along with Dipping Energy prices. For the Latest information regarding Oil and Energy Stock, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Oil prices settled below $80 a barrel Monday, dragged down by a stronger dollar and increasing investor concerns about energy demand. Energy prices fell across the board, with benchmark crude contracts for April delivery sliding $1.44 to settle at $79.80 a barrel on the New York Mercantile Exchange. Earlier, crude dipped as low as $79.16. It's been nearly two weeks since prices dropped below $80.
MF Global analyst Mike Fitzpatrick said, "A great deal of skepticism is creeping into the market about the sustainability of a market recovery," which has fueled concerns that consumers will keep their cars parked and watch their energy use closely.
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