Open pastime in crude oil futures prolonged the downtrend on Monday and dropped through round 3.9K contracts in accordance to preliminary readings from CME Group. Volume, instead, improved by means of round 4.1K contracts after two consecutive day by day pullbacks.
WTI looks to have entered a consolidative phase
Monday’s first rate good points in expenses of the WTI had been amidst shrinking open activity and a small enlarge in quantity and is indicative that the continuation of the rebound looks out of favour in the very close to term. That said, the rate motion round the commodity ought to face some near-term consolidation round the $70.00 place for the time being.
