Crude Oil Futures: Further cautiousness on the cards

In light of advanced data for crude oil futures markets from CME Group, traders scaled back their open interest positions for the third session in a row on Tuesday, now by around 17.2K contracts. On the opposite side, volume went up for the second consecutive session, this time by around 47.3K contracts.

WTI stays capped by $40.00/bbl

Prices of the WTI are gradually edging higher amidst shrinking open interest and rising volume. That said, further consolidation thus remains likely in the very near-term, with a clear resistance at the $40.00 mark per barrel so far.