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CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions by nearly 4K at the end of last week, reversing three builds in a row. In the same line, volume prolonged the choppy activity and shrunk by around 55.4K contracts.

WTI still capped by $44.00/oz

Prices of the barrel of WTI cling to the $43.00 mark at the beginning of the week. Last Friday, prices posted modest losses amidst shrinking open interest and volume, leaving the neutral/positive outlook unchanged for the time being and with immediate target at the $44.00 mark per barrel.

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