From Newsmax:

When oil prices rose to $73 a barrel last month, more than double the low of 2008, talk spread that a huge spike was coming.

Instead, prices have dropped 18 percent to $60 a barrel. And experts say oil could fall even further amid concern the global economy will remain mired in stagnation for some time.

“The bottom line is that it’s all about demand, and the lesson here is that the recovery is going to be a long and bumpy road, and not a smooth and straight line,” Michael Wittner, global head of oil research at Societe Generale, told The New York Times.

He says oil could slide to $50 soon.

Read full article...

More on oil and commodities:

The only gold investment Wall Street can't ruin

Why commodities could suffer a terrific collapse

A huge amount of government money is headed for this commodity