Oil slumped to a six-year low near $40 a barrel in New York. While a rebalancing has clearly begun, the process is likely to be prolonged as a supply overhang is expected to persist through 2016 — suggesting global inventories will pile up further.
Regular gas is $2.23 a gallon at the Sheetz in Orange, Virginia. I drive a Toyota Prius 2 … 52 MPG.
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