CME Group’s flash data for crude oil futures markets noted traders reduced further their open interest positions on Tuesday, this time by around 6.7K contracts. On the other hand, volume went up by around 57.4K contracts after three consecutive daily pullbacks.
WTI remains supported at around $75.00 prices charted an inconclusive session on Tuesday. The vacillating price action was on the back of shrinking open interest and a decent increase in volume. Against that, crude oil prices could maintain some consolidation below the $80.00 mark per barrel in the very near term.More By This Author:EUR/USD Price Analysis: Outlook Shifts To Constructive Above 1.0800 EUR/JPY Price Analysis: Upside Momentum Has Further Legs To Go Natural Gas Futures: Further Weakness Not Ruled Out
Crude Oil Futures: Some Consolidation Emerges On The Cards
