June WTI drifted lower in the Far East, meeting Europe around $57.50 and then sliding as London stepped and the IEA released a poor monthly report, down to $56.60, then chopping sideways, the day’s lows made at $56.55 as early US traders arrived, and meeting the main action at $56.95. A very subdued and low volume session followed, content to trade either side of the $57.50 area thoughout the NYC morning then briefly penetrating $58 before sitting back and meeting the last hour of the main session at $57.56. Quiet again to begin with but as we moved into the last half hour another challenge on the unchanged level found some traction, somewhat helped by options expiry as we moved through the even dollar and then pushing for the next strike as the close approached tagging $59, the day’s highs, just before we entered the closing range, then easing to settle at $58.62 for gains on the day.