Here's Why $50 Oil May Be the New Normal

Oil prices may have found a new price mechanism: beyond $50 a barrel. Oil prices have remained above $50 for the past week or so, an impressive feat for the commodity which reached $26 a barrel earlier this year, according to Spencer Welch, an oil analyst at IHS, based in London. "It all depends on what OPEC does next," he said, adding that if OPEC limits production at its November meeting, oil prices above $50 may be the new normal. TheStreet's Scott Gamm reports from Wall Street.