Crude Oil Futures Nears $50 Again

July Crude Oil futures are trading higher by $1.04 at $49.66 in Monday's session. It has followed through on Friday's late afternoon rally. After a higher open, it retreated but found support ahead of Friday's close ($48.62), only reaching $48.71 before resuming its move higher. It has surpassed the pair of highs from Thursday ($49.47) and Friday ($49.41), so far, reaching $49.90. If the rally continue, there may be additonal resistance at its May 31 high ($50.10) as well as at the recentn fhigh fo r the move made on May 26 at $50.21.