Crude Oil Futures: Scope for extra consolidation
|CME Group’s preliminary figures for Crude Oil futures markets saw open interest shrinking for the second session in a row on Tuesday, this time by nearly 2K contracts. On the opposite side, volume went up markedly by around 214.6K contracts.
WTI looks side-lined just below $40.00/bbl
The barrel of WTI continues to trade within a consolidative mood, always near the key barrier at the $40.000 mark. That said, extra rangebound remains well in the pipeline for the commodity amidst inconclusive trends in both open interest and volume.
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.