Home Crude Oil Futures: Room for a correction lower

Crude Oil Futures: Room for a correction lower

Updated: 7 Apr. 2020 | 10:23

Traders added nearly 18.5K contracts to their open interest positions in Crude Oil futures markets, as per advanced data from CME Group. On the flip side, volume shrunk for the second session in a row, this time by almost 653K contracts.

WTI: Back to the $20.00s?

The negative start of the week in prices of the West Texas Intermediate was in tandem with rising open interest, opening the door to a deeper retracement, which could initially target the key $20.00 neighbourhood per barrel.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.