Investors added around 27.8K contracts to their open interest positions in crude oil futures markets on Wednesday, reversing the previous drop according to advanced figures from CME Group. Volume, instead, shrunk by around 440.7K contracts, prolonging the erratic activity seen as of late.
WTI faces another visit to sub-$20.00 levels
Prices of the WTI remain well under pressure. Wednesday’s drop was in tandem with declining open interest, which leaves well on the cards a more sustainable breach of the $20.00 mark per barrel in the short-term horizon.