There Goes Oil ...

Oil is all over the place.

In morning trade Thursday, the price of WTI crude oil tumbled, moving back below $61 a barrel and toward the lows hit Wednesday.

Near 12:30 pm ET, oil was still below $61 a barrel, but off its worst levels and bouncing all over the place.

On Wednesday, WTI fell below $60.50, the lowest since 2009, while Brent crude oil also dipped below $65 a barrel. On Thursday morning, WTI touched $60.09.

US stocks followed oil lower on Wednesday, with the Dow falling 268 points and the S&P 500 having its worst day since October. On Thursday, however, US stocks were surging higher with the Dow adding as many as 200 points.

Markets around the world were more unsettled, with stocks in Greece selling off hard and stocks in Dubai crashing overnight. 

But oil is the story in the markets right now, and we'll keep our eye on it all day. 

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