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Oil glut meets rising demand in quietest market since 2013

Crude trades in US$5 range in June, the narrowest in 19 mths

RANGE BOUND: After rallying from March's six-year low, crude's upside has been capped by the Opec's pledge to keep pumping more crude and rising US output despite the unprecedented drop in drilling rigs.

New York

THE sleepiest oil market since 2013 will probably limp through the second half of the year as well.

Crude traded in a US$5 range in June, the narrowest in 19 months. Volume was the lowest since December and open interest - the number of futures contracts outstanding - was