My thought is that Oil is likely going to be all over the place for awhile just like world stock markets. One reason would be: "As drillers and shale miners go out of business for whatever the reason (low oil prices) it will spike up prices. But, as countries produce more oil in order to keep in business prices will go down. So, like the article says, "Buckle up!" Because prices could go anywhere for a month or two or more the way this presently looks. Also, investors who might be backing oil drillers or shale miners might have been spooked by a 2000 point drop over the last month or so in the U.S. markets. So, this might be causing chain reactions up and down the line. And because of this oil likely will be all over the place.

MarketsBuckle up! Oil roller coaster still running

19 hours ago

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The oil roller coaster continues.
After Brent crude surged more than 15 per cent over Thursday and Friday to close above $50 a barrel, in what most traders viewed as a short covering rally ahead of the long UK weekend, the international oil benchmark is dipping once again, writes deputy commodities editor David Sheppard.
By 10:20am London time on Monday, Brent was down 2.7 per cent to $48.69 a barrel while US benchmark, West Texas Intermediate fell 2.3 per cent to $44.18.
Traders said the oil market remains well supplied, while concerns remain about the health of China's economy after another volatile day on Shanghai bourses.
Analysts at Citi said that with near record Saudi Arabian and Iraqi production contributing to an almost 2m barrel a day oversupply in the market, they remained cautious on the outlook for crude.
The outlook for Saudi Arabia's official selling prices could be key, Citi said, with traders looking for indications whether the world's largest exporter rolls back supply after ramping up over the summer to meet domestic air conditioning demand. The latest figures, due early next month are "a critical measuring stick," Citi said, adding:

If the Kingdom does not discount their crude it could be a strong indication of their walking back some of their new policy regime (to maintain market share).

The one certainty right now appears to be volatility. The so-called fear index, the Oil Vix, spiked to a 5-month high last week.

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1. Buckle up! Oil roller coaster still running -...

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   The oil roller coaster continues. After Brent crude surged more than 15 per cent over Thursday and Friday to close above $50 a barrel, in what most traders viewed as ...