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Crude Oil Near $66 As Saudis Relent

Crude oil prices fell Tuesday morning amid indications that Saudi Arabia is ramping up production.

Saudi Arabia boosted daily oil output in May to the highest level since October, according to Bloomberg. The Saudis and Russia are reportedly going to announce an output increase at their upcoming meeting.

WTI light sweet oil was down 13 cents at $65.97/bl.

Markets continue to assess the historic meeting between the U.S. and North Korea.

"The United States and the DPRK commit to establish new US-DPRK relations in accordance with the desire of the peoples of the two countries for peace and prosperity," according to a docusment released by the White House.

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