RECENT POSTS
- Web Extra: The Final Trade
- Buying Fear: How to Own Volatility
- Burned by A&F, Alcoa & More
- Chartology – The Stocks/Jobs Disconnect
- The Latest Picks That Paid — Friday, November 6
- Pops & Drops: Burlington Northern, Starbucks, Kraft...
- Time to Trade on Unemployment
- BEHIND THE MONEY: Don't be Fooled, Jobs Matter to Stocks
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTSDownload Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
 |
Oil [US@CL.1
Loading...
()
] fell below $50 dollars Thursday for the first time in nearly 2 years touching its lowest level since May 2005.
Record job losses intensified concerns of a long and deep global recession and, as a result, further crushed demand expectations for crude.
The unemployment data was yet another ugly data point in a seemingly never ending stream of poor economic numbers," said Michael Wittner, global head of oil research at Societe Generale.
"What makes it hard to call a bottom is that even when oil fundamentals firm up, if we're still having these waves of de- leveraging, it can overwhelm even the oil fundamentals."
Can oil prices keep falling?
The short answer is yes, according to Addison Armstrong, a CNBC contributor and director of market research at Tradition Energy.
“In the short term crude prices are going to be following equities as they have been for the past month. And given the way things look the trend is in place for oil to go lower. I expect to see oil trade $45 before it trades at $60.”
- Web Extra: The Final Trade
- Buying Fear: How to Own Volatility
- Burned by A&F, Alcoa & More
- Chartology – The Stocks/Jobs Disconnect
- The Latest Picks That Paid — Friday, November 6
- Pops & Drops: Burlington Northern, Starbucks, Kraft...
- Time to Trade on Unemployment
- BEHIND THE MONEY: Don't be Fooled, Jobs Matter to Stocks
- Halftime Report: Wal-Mart Poised for Breakout
- Your First Move For Friday November 6th
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes