Crude Oil Futures Higherr In Volatile Trading

July Crude Oil futures are trading lower by $0.10 at $48.91 per barrel in Thursday's session. The contract has follow though Wednesday's late day rally in premarket trading moving up to $49.47 before reversing course. The ensuing decline, which was accelerated by rumors of OPEC having trouble agreeing to terms on a production ceiling, took the contract to $47.97. That was just ahead of Wednesday's low at $48.97. It has now rebounded back into the $49 handle and has cleared Wednesday's close ($49.01) and is within striking distance of the session high.