Range Markets

CME Group’s advanced prints for Crude Oil futures markets noted open interest dropped for the second session in a row on Thursday, this time by around 10.5K contracts. Volume followed suit and went down markedly for the second consecutive day, now by around 195.6K contracts.


Thursday’s positive price action in WTI came amidst declining open interest and volume, hinting at some loss off upside momentum in the commodity, at least in the very near-term. On the upside, occasional bullish attempts in WTI are expected to struggle around the $64.00 mark per barrel.

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