Crude Nears $48

June Crude Oil futures are trading higher by $1.46 at $46.67 per barrel in Monday's session. The rally from the premarket session has carried over into the regular session. It has went on to make a new high for the recent rally, surpassing its former high, made on Thursday at $47.02, reaching $47.85. That is just shy of the pair of highs from November 24 ($47.93) and November 25 ($48.02. Based on the June contract, Crude Oil has not traded over $50. since November 5, when it peaked at $50.28.