June crude oil prices traded higher during the initial morning hours, helped by a lift in sentiment, weakness in the US dollar and modest supply concerns. June crude oil prices appeared to find some stability this morning from a rebound in European and US equity markets. The supply situation for the Brent crude oil market has tightened slightly in response to the closure of the North Sea Buzzard oil field. The supply side of the crude oil market might also be getting a level of support on talk of protests taking place near one of Libya's top oil producers, as well as resistance from Venezuela's energy minister over boosting OPEC production at the June meeting.
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