Range Markets

CME Group’s advanced prints for crude oil futures noted open interest increased for the second session in a row on Thursday, this time by around 31.2K contracts. Volume, too, went up after five consecutive drops, now by around 101.9K contracts.

WTI: Door open for a move below $20.00/bbl

Prices of the barrel of the West Texas Intermediate keep trading on a negative fashion at the end of the week amidst rising open interest and volume. Against this backdrop, a re-visit to the 2020 lows in sub-$20.00 levels should not be ruled out.

Leave a Reply

Your email address will not be published. Required fields are marked *