Brent crude belies stocks market gains as it slides into the month-end

Yesterday was the last trading day for June Brent crude contract and it closed lower on the NYMEX exchange. The alarm bell on that possibility was raised here yesterday morning. Well, Brent crude for June delivery settled $1.61 lower on that exchange, at $64.25. Today we are now trading the July contract and that settled $1.51 lower on the NYMEX exchange last night, at $63.28. It has fallen back further today and that fall does rather belie the gains we are seeing across the European stock markets this morning and US futures and their recent run higher. That said, this is all seemingly about a possible increase in output from OPEC+. Brent crude for July delivery is right now on session lows, currently trading at $62.35