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Pop Goes the Oil Bubble!

7:25 PM ET Thu, 17 July 2008

Oil prices fell $5 overnight, dropping 11% in the past three sessions. As William Smith, president, CEO & senior portfolio manager at SAM Advisors sees no justification for the high oil prices, he tells CNBC's Amanda Drury & Sri Jegarajah oil could fall as low as $40-a-barrel.