Oil prices falling, but maybe not for long: Jefferies

Oil prices have fallen 15% over the past year, and they could slide further before stabilizing. That's good news for U.S. consumers who are paying an average of $3.41 for a gallon of regular gasoline -- the lowest price in six months, according to AAA.

"There's some downside still on prices, but I think we're near the bottom here," says Andrew Lebow, a senior VP for energy derivatives at Jefferies Bache. "Maybe another dollar or two on WTI and maybe another dollar or two on Brent.... We’re near the lows."

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