Oil now US$78, can go as low as US$60 (Good News !!!)(NST)

The stunning collapse in oil markets accelerated on Friday, sending a barrel of crude plunging below US$78 (RM273) as investors grew more pessimistic about resolving a mushrooming global economic crisis

Oil hasn't been this cheap in 13 months -- a rare silver lining for consumers amid a rapidly imploding financial landscape. Crude prices have almost been cut in half since surging to a record near US$150 barrel recently. Energy experts believe prices could go even lower.