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Pulls Back Slightly

OIL

Oil is lower to kick off the week, snapping a three-day winning streak. WTI is down $0.19 from settlement levels at $73.86/bbl, while Brent is down $0.20 at $75.98/bbl. At these levels oil is still hovering near a two-year high. There were reports that US forces conducted airstrikes on Iranian-backed militia groups blamed for drone attacks on American facilities in Iraq, the strikes could prove a stumbling block in negotiations on the nuclear accord. Focus turns to the next OPEC+ meeting on July 1 after a leak that an increase of 500k bpd is being considered.

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