Market news
07.12.2022, 06:33

Crude Oil Futures: Downside could be losing traction

CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions by just 492 contracts on Tuesday, partially reversing the previous daily build. Volume, instead, increased fir the second session in a row, now by around 81.4K contracts.

WTI: A drop to $70.00 emerges on the horizon

Crude oil prices remained under pressure and dropped to fresh 2022 lows on Tuesday. The daily uptick was on the back of diminishing open interest, indicative that further decline could take a breather in the very near term. The broader bearish sentiment in WTI, however, leaves the door open to a probable revisit to the $70.00 mark per barrel.

© 2000-2023. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location