Oil prices tell you what the markets really think- Brent falls close to $60 earlier this morning

Yesterday it was a day of two very distinct halves for the oil markets. As the US stock markets opened higher, the price of Brent crude for June delivery recovered back above $65 per barrel. That was a pretty consistent price reaction to the gains in stocks. However, by the time of the NYMEX settlement it was a different story. Brent later settled $1.39 lower on that exchange, at $62.82. Given the deterioration on the global demand outlook since, the price has fallen further today. That deterioration especially concerns the outlook for Chinese demand, but it is not limited to just that country right now. So, Brent has fallen closer to the $60 handle earlier this morning. Earlier today Brent hit a low at $60.17. It is off that low now, but what price the risk of a drop below $60 at some point today? Brent for June delivery is right now at $61.35