Considering advanced prints from CME Group for crude oil futures markets, open interest resumed the uptrend and went up by around 8.4K contracts, setting aside the previous daily pullback. On the other hand, volume dropped for the second consecutive session, this time by around 61.2K contracts.
WTI retargets the $92.00 mark and above
Prices of WTI resumed the upside o Tuesday, leaving behind Monday’s corrective decline. The daily uptick was accompanied by increasing open interest, which is indicative that further gains look likely in the very near term. Next on the upside for the commodity now emerges the September top around $92.60 per barrel (September 19).
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD turns south toward 0.6450 as souring sentiment lifts US Dollar
AUD/USD is falling back toward 0.6450 in Tuesday's Asian trading. The pair is undermined by the widening Australian Current Account deficit and a renewed US Dollar uptick as risk sentiment deteriorates on China's economic concerns and looming Trump's tariffs threat. Focus shifts to top-tier US economic data for fresh impetus.
USD/JPY rebounds with US Dollar to test 150.00
USD/JPY bounces back to test 150.00 in the Asian session on Tuesday. The return of risk-off flows and a revival in the US Dollar demand underpin the pair. However, any meaningful upside seems limited in the wake of rising bets for another BoJ interest rate hike later this month.
Gold price licks wounds below $2,650, buyers seem non-committed
Gold price is licking its wounds below $2,650 in the Asian session on Tuesday amid resurgent safe-haven demand for the US Dollar on the back of Trump's tariff threats and geopolitical uncertainty. Gold, however, remains in a familiar range as traders await key US labor data for cues on Fed's rate cut outlook.
Ripple's XRP eyes new all-time high, key factors to consider after extending its uptrend by 25%
Ripple's XRP continued its rally with a 25% surge on Monday, stretching its monthly gains to over 430%. Following the recent uptrend, the remittance-based token now ranks #3 among top cryptocurrencies despite witnessing a mix of bullish and somewhat bearish investor actions in the past few days.
Trump warns BRICS over Dollar rival plans
Donald Trump, the incoming U.S. President, has issued a strong warning to BRICS nations over their plans to challenge the dominance of the U.S. dollar in global trade.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.