CME Group’s flash data for crude oil futures markets noted traders added around 5.1K contracts to their open interest positions on Thursday. Volume, instead, shrank by around 164.5K contracts and reversed the previous daily build.
WTI: Immediately to the downside comes $100.00
The sell-off in prices of the WTI remained unabated on Thursday. The downtick was amidst rising open interest, which is supportive of the continuation of this trend in the very near term. That said, the next key support emerges at the psychological $100.00 mark per barrel.
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