Nymex’s crude oil dropped 4.02% to US$48.53 per barrel in Asian trading this morning, after recently challenged US$50.00. Many investors and those in oil feel that perhaps the worst has been seen in the oil patch. But there are of course no assurances of that. There are still likely to be bankruptcies and layoffs in the near-term. Despite a nearly 100% rally in the price of crude oil, from the $26 per barrel bottom, energy sector bankruptcies continue unabated.
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