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Oil prices have traded sideways this morning....>

OIL
OIL: Oil prices have traded sideways this morning. Brent crude oil trades at
USD62.17/bbl, in the middle of the day's range, while WTI trades at USD52.61/bbl
and similarly near the midpoint of the intraday range. 
- Saudi Energy Minister Khalid Al-Falih has indicated that the OPEC+ group will
probably meet in the first week of July and that the cartel will likely agree to
extend production cuts. 
- The US has doubled down on allegations that Iran was responsible for the
recent oil tanker attack. Secretary of State Mike Pompeo told Fox News Sunday
that there is a lot of supporting evidence. However, he also stressed the need
for diplomacy to resolve the issue. 
- CFTC data show a 46% increase in short positions on WTI crude as bearish
sentiment intensifies. 

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