Open activity in crude oil futures markets accelerated for the fifth consecutive day on Monday, this time by using round 4K contracts in accordance to preliminary readings from CME Group. Volume accompanied go well with and went up by using almost 226K contracts, reversing the preceding day by day drop.
WTI: Next on the draw back comes $70.00
The WTI commenced the week on the again foot amidst growing open pastime and volume, which is indicative that similarly weak point lies in advance for the commodity, at least in the very close to term. Against that, the loss of the 2023 low at $72.30 (February 6) should put the key $70.00 mark per barrel again on the traders’ radar.