Crude Oil Futures: A sustained pullback loses traction
Considering advanced prints from CME Group for crude oil futures markets, open interest extended the downtrend for yet another session on Wednesday, this time by nearly 2K contracts. Volume, instead, increased for the second straight session, now by around 186.2K contracts.
WTI: The $75.00 region holds the downside…for now
WTI prices extended the corrective decline on Wednesday amidst diminishing open interest, which should hit at the view that at deeper drop appears not favoured in the very near term. On the downside, there is an important contention at the $75.00 mark per barrel so far.
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