Crude Extended Rally as OPEC Signaled Willingness to Discuss Price

Crude oil shrugged off earlier losses and jumped as OPEC indicated willingness to talk to other producers on "fair price". Sentiment was also buoyed by the DOE/EIA report which showed a -1% m/m drop in June output. The front-month WTI contract rallied +8.8% on Monday, accumulating a +25.3% gains in total over the past 3 trading days.

from Oil N' Gold Focus http://ift.tt/1O4QqDj