Crude Oil Lower In Very Tight Range

July Crude Oil futures are trading lower by $0.52 at $48.36 per barrel in Tuesday's session. So far, it has traded in only a $0.67 range. It has traded in less than $1 range since May 27.

On the upside, it has not been able to reach Monday's close ($48.88), only reaching $48.69. On the downside, it has breached Monday's low $48.16, reaching $48.02. Also, the current low represents its lowest level since peaking at $51.67 last Thursday.