crude oil now below $42.oo!!

I never thought i would see the day when oil dropped below USD42. Yes it's WTI which is not top grade and is usually $4-5 below Brent.... but WTI has just broken the $42 level. Question is... can crude recover and get back above say $60? Def not impossible, but my estimation is for WTI to stay in $40-55 range with Brent in $45-60 range for next 6-18months.

Oil at a 6 yr low. Ignore the short lived spike down in 2009 and its at a 11 yr low. World has 1 BILLION more people since then yet oil has dropped 60% in 13 months. Incredible.

But I'm far more bearish re ever seeing a recovery in LNG price as supply for next 5yrs is set to massively exceed demand. Here in Oz alone we will add 30million tons/annum over the next 3-12months. When Gorgon/Wheatstone reach full production it will be far higher. Cannot see LNG price recovering and expect it to continue falling. Avoid.