- Analytics
- News and Tools
- Market News
- Crude Oil Futures: A near-term bounce not ruled out
Crude Oil Futures: A near-term bounce not ruled out
Open interest in crude oil futures markets shrank for the second straight session on Tuesday, now by nearly 7K contracts according to preliminary readings from CME Group. On the other hand, volume remained choppy and went up by around 77.4K contracts.
WTI: Upside remains capped by $93.00 and above
Tuesday’s moderate downtick in prices of the WTI was amidst declining open interest, which removes strength from a potential deeper decline. Against that, there are chances of a rebound in the very near term and with the immediate up barrier at recent peaks past the $93.00 mark per barrel.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
