CME Group’s advanced prints for crude oil futures markets noted traders added around 8.8K contracts to their open interest positions on Friday, reaching the third build in a row. Volume, instead, went down for the third straight session, this time by around 273.5K contracts.
WTI faces the next hurdle near $68.00
Friday’s inconclusive session gyrated around the $66.00 neighbourhood amidst rising open interest, leaving the door open for the continuation of this mood at least in the very near-term. In the meantime, prices of the WTI face the next relevant resistance at the 2021 highs just below the $68.00 mark per barrel (March 8).
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