According to early data from CME Group, open interest in crude oil futures markets decreased by over 1.1K contracts on Thursday, showing the first decline since December 22. Volume in the same line decreased by about 77.3K contracts and abandoned three consecutive daily builds.
WTI: A return trip to $72.50 is possible. Crude oil trading in dubai
The WTI price increase on Thursday was due to declining volume and open interest, which made it difficult for the bounce to continue. Nevertheless, resurgent commodity weakness has the ability to push prices down to the area of recent conflict, which is around $72.50. (January 5).
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