Open interest in crude oil futures markets increased for the fifth session in a row on Thursday, now by around 12.6K contracts according to preliminary readings from CME Group. Volume, instead, shrank for the second straight day, this time by around 188.1K contracts.
WTI prices came under some downside pressure on Thursday, soon after hitting fresh yearly highs around $88.00 per barrel. The corrective move was amidst increasing open interest and favours further decline in the very near term, while bullish attempts appear so far capped by the $88.00 region.
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