Crude Oil Futures: Cautiously positive
|Traders scaled back their open interest positions in crude oil futures markets by almost 9K contracts on Thursday according to preliminary figures from CME Group. In the same line, volume shrunk markedly by around 352.8K contracts.
WTI still looks to $40.00/bbl
Prices of the WTI advanced within a tight range on Thursday amidst shrinking open interest and volume. Despite a correction lower appears on the cards in the very near-term, the West Texas Intermediate still aims for a visit to the key barrier at the $40.00 mark per barrel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.