June crude oil prices came under pressure overnight, weighed down by a pullback in risk appetites after JP Morgan reported that it incurred a $2.0 billion hedge-related trading loss. The crude oil market came under added pressure in the wake of Chinese Industrial production data that lent more evidence that their economy was slowing more than expected. The latest IEA monthly report this morning pointed to an active global oil production pace, raised global oil demand forecasts fractionally and made note of geopolitical risks.