Energy Preview: WTI Crude oil recovers above $61 per barrel mark

WTI crude oil futures recovered on Wednesday morning after having drifted below $61 per barrel mark in the previous session. Easing fears of trade tensions between the US and the European Union (EU) is providing some support to the commodity ahead of the OPEC+ decision. Trump announced an extension on the 50% tariff deadline on the European Union (EU) until July 9 after a phone call with Commission President Ursula von der Leyen. However, expectations that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will decide to increase output at a meeting this week might contribute to the WTI?s downside. Currently, the counter is quoting at $61.13 per barrel, up 0.4% on the day.

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