Crude Oil Futures: Further upside looks limited
|CME Group’s advanced data for Crude Oil futures markets saw open interests shrinking by around 45.7K contracts at the end of last week following four consecutive builds. In the same line, volume went down by around 367.4K contracts, prolonging the erratic performance seen as of late.
WTI eyes a move to $29.00/bbl
Prices of the barrel of WTI kept the recovery well and sound on Friday, closing in levels just shy of the key $20.00 mark. That said, while a move to April’s highs above the $29.00 mark per barrel remains on the cards in the short-term horizon, shrinking open intertest and volume leaves further upside somewhat limited.
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.