Crude Oil Futures: Further losses in the pipeline
|CME Group’s flash data for Crude Oil futures markets noted open interest went up by nearly 25.3K contracts on Tuesday, reversing three consecutive daily pullbacks. Volume followed suit and rose markedly by around 351.5K contracts.
WTI likely topped near $65.00
Prices of the WTI edged lower on Tuesday after hitting multi-week highs near the $65.00 mark. The move was amidst rising open interest and volume, indicative that further downside lies ahead. That said, there is strong contention in the $57.50 region for the time being.
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.