Crude Oil Futures: Scope for extra pullbacks

Pablo Piovano FXStreet

CME Group’s flash data for crude oil futures markets noted traders added around 1.4K contracts to their open interest positions at the end of last week. Volume, instead, partially reversed the previous daily build and shrank by around 43.5K contracts.

WTI keeps targeting $109.00

WTI prices could not sustain a move to the $108.00 region on Friday amidst rising open interest. That said, further decline should not be ruled out in the very near term, while bullish attempts continue to target the April high past the $109.00 mark (April 18).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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