Crude Oil Futures: Further rangebound in the pipeline

Traders increased their open interest positions in Crude Oil futures markets by around 7.3K contracts on Wednesday, in light of flash data from CME Group. Volume followed suit and rose by around 105.2K contracts, reversing the previous drop.

WTI seen around the $40.00 mark for the time being

The barrel of West Texas Intermediate keep navigating the $40.00 neighbourhood for yet another session. Wednesday’s uptick in open interest and volume was amidst the persistent tight range and this stance is expected to prevail at least in the short-term horizon.

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