Oil just keeps on taking a beating, and Thursday was no exception. While a lot of bears think that oil is headed much lower in the next few weeks, it has, more than likely, bottomed.
Why? Simply put, Russia and the middle east (Iran) are bound to start trouble to boost the price. Remember, 90% of their economies depend on oil. Just watch, something crazy will happen in the next 48 hours to stabilize and bounce oil in the near term.