Crude Oil Futures Dip Under $48 And Rebound

July Crude Oil futures are $0.84 at $48.26 per barrel in Wednesday's session. The sell off in the contract that began later in the day on Tuesday had follow through in today's session. After falling under $48, it found support just ahead of its May 24 low ($47.64), only reaching $47.75 before rebounding back into the $48 handle. In order to reach the lower end of Tuesday's range, it would need to reach $48.81.