August Crude Oil futures are trading lower by $2.19 at $47.92 per barrel in Friday's session. The contract is having one of its largest daily ranges in months.
In pre-market trading, the contract reached $50.54 before tumbling with the world markets. The ensuing decline took Crude Oil to $46.70 before staging a rebound. That low comes in just ahead of the pair of lows from June 16 ($46.44) and June 17 ($46.40).
Since making that low, the rebound has been capped at $48.32.
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