Energy Preview: WTI futures in tight range

WTI Crude oil futures stayed in a tight range, consolidating around $65 per barrel mark as the US equities were broadly supportive. Dow rose nearly 1%. Economic cues were tepid though. The ISM manufacturing PMI rose to 49 in June versus 48.5 in the previous month but stayed in contraction zone. The US Job Openings and Labor Turnover Survey, or JOLTS report, showed openings were up 374,000 to 7.769 million by the last day of May, but a decline in hiring indicated the market may have slowed.

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