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In light of flash data from CME Group for crude oil futures markets, investors trimmed their open interest positions for the second straight session on Wednesday, now by around 14.5K contracts. On the other direction, volume went up for the second consecutive session, this time by around 278.2K contracts.

WTI faces extra rangebound near term

Prices of the WTI are seen extending the side-lined theme on the back of the inconclusive performance from both open interest and volume as of late. That said, the $20.00 neighbourhood per barrel remains a tough support for the time being, while the key $30.00 barrier emerges on the upside.