CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions by around 5.8K contracts on Thursday following three daily drops in a row. Volume followed suit and dropped for the second straight session, now by around 133.8K.
WTI could attempt some consolidation ahead of $90.00
Crude oil prices charted an inconclusive session on Thursday in tandem with diminishing open interest and volume. That said, there seems to be room for some side-lined trading in WTI ahead of a potential move to the $90.00 mark per barrel in the not-so-distant future.
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