Lately when there has been a quick downturn in the price it usually was followed by a quick recover to near the level it was at. Today it looked like it started with a market sell order to me and then then once it broke 10 cents some other orders (possibly stop loss?) kicked in and accelerated the decline. I know the oil drop was going to bring a little pull back and my guess is that news behind the price drop in oil today is particularly troublesome because of the news of increase production from OPEC and Libya looking to bring up their production. Between and Iran and Libya they might stall the oil price action at $42-$45 for some time. But who knows? A report from the API showing a decrease one day and price shoots up. The next day the IEA report shows a build for the same week and the price still yet again goes up.
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