- Analytics
- News and Tools
- Market News
- Crude Oil Futures: Further rebound could lose traction
Crude Oil Futures: Further rebound could lose traction
CME Group’s flash data for crude oil futures markets noted traders resumed the downtrend in their open interest positions on Thursday, this time following a drop of around 11.7K contracts. Volume, on the other hand, went up for the second session in a row, now by around 50.3K contracts.
WTI: A drop to the $72.00 region should not be ruled out
Thursday’s marked rebound in prices of the barrel of the WTI was accompanied by declining open interest, which is indicative that a more sustainable recovery seems not favoured for the time being. The next target on the downside, in the meantime, emerges at the 2023 low at $72.30.
© 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
