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.┬áBut 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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