Crude Oil Futures: Upside looks limited

Pablo Piovano FXStreet

CME Group’s flash figures for Crude Oil futures markets noted open interest shrunk for yet another session on Tuesday, now by around 2.7K contracts. Volume followed suit and went down by nearly 265K contracts offsetting the previous build.

WTI struggles to leave $40.00 behind

Prices of the barrel of WTI keep navigating the $40.00 region so far this week. However, the downtrend in open interest plays against extra gains and could spark some correction in the short-term horizon.

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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