CME Group’s flash data for Crude Oil futures markets noted traders added around 8.3K contracts to their open interest positions on Wednesday, reversing two consecutive daily pullbacks. Volume followed suit and rose for the second straight day, this time by around 122.3K contracts.

WTI FACES FURTHER CONSOLIDATION

Prices of the WTI charted small gains on Wednesday against the backdrop of rising open interest and volume. That said, extra gains now appear in the pipeline although amidst the broader consolidative range.