Crude Oil Futures: Extra losses not ruled out
|CME Group’s flash data for crude oil futures markets noted traders extended the uptrend in their open interest positions and added around 13.2K contracts on Friday. Volume, instead, shrank for the second straight session, this time by nearly 98K contracts.
WTI could still put the $70.00 mark to the test
Friday’s small downtick in prices of the WTI was amidst rising open interest, which suggests that further decline should not be discarded yet. Against that, the commodity still faces a key contention area at the 2022 low near the $70.00 mark per barrel (December 9).
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.