Crude Oil Futures: Room for further consolidation

Investors increased their open interest positions by almost 11K contracts on Friday, in light of flash data from CME Group. Volume, instead, went down for the second session in a row, this time by around 165.1K contracts.

WTI points to extra rangebound

Friday’s small downtick in WTI prices was amidst rising open interest, leaving the door open to the continuation of the consolidative range at least in the very near-term. The downside, in the meantime, stays supported by the $57.50 area per barrel for the time being.