OPEC and its allies met over the weekend for a preliminary meeting before their June 25 26th official meeting as de facto leader Saudi Arabia indicated that the group is likely to maintain production cuts that have helped boost crude prices this year.
Markets were mixed on the news as U.S. crude inventories continued to surge.
WTI closed the day at $62.99 per barrel while NYMEX natural gas prices closed at $2.61 per mmbtu.
