Open interest in Crude Oil futures markets reversed two consecutive daily builds and went down by around 6.2K contracts on Monday according to preliminary readings from CME Group. On the other hand, volume ticked higher by around 33.7K contracts following two drops in a row.
WTI capped around $40.00/bbl
Monday’s uptick in prices of the barrel of West Texas Intermediate was amidst shrinking open interest, suggesting that further upside remains limited around the key barrier at the $40.000 mark.
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.