Crude Oil Futures In Full Retreat

July Crude Oil futures are trading lower by $1.51 at $49.05 in Friday's session. It is now nearly $3 off its recent high that made on Thursday at $51.67. The sell off from the after-hours session has continued into the regular session. Once Thursday's low was breached, the selling pace accelerated. It is easily sliced through Tuesday's low ($49.44) and has found support at $48.85 and is attempting to rebound.