Crude Futures Lower In Choppy Session

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.July Crude Oil futures were trading lower by $0.56 at $60.28 in Friday's session. It has been a fairly quiet week in the oil patch. So far, the July contract has traded in only a $3.49 range for the entire week.On Wednesday, it peaked at $62.81, which is well shy of the high for the recent move made on May 6 at $63.54. That high marked the highest level for Crude since it peaked at $64.04 on December 2, 2014.In today's session after a lower open, it rallied and found resistance just ahead of Thursday's close ($60.84), reaching $60.82 before turning lower. The ensuing decline found support ahead of its May 9 low ($59.10), finding support at $59.32 and rallying back into the $60 handle.The highest close of the recent basis the July contract stands at its May 6 close of $61.89.The United States Oil Fund LP (ETF) (NYSE: USO) was trading at $20.40, down $0.13.