WTI crude oil futures still have further downside potential?

FXStreet
coverImg
Source: DepositPhotos

According to the latest data from the Chicago Mercantile Exchange (CME) Group's crude oil futures market, open interest in crude oil contracts declined for the third consecutive day on Thursday, decreasing by nearly 10,000 contracts. The trading volume decreased by approximately 111,200 contracts, ending a two-day growth trend.


WTI crude oil continues to be supported near $78

WTI crude oil prices attempted a rebound on Thursday, but both open interest and trading volume showed a downward trend, suggesting that this market condition may not continue in the short term. Meanwhile, oil prices are still supported near $78, which is expected to temporarily prevent further decline.



Read more

  • WTI Crude Oil Price Forecast: Oil Plunges Nearly 5% as US-Iran Talks Expected to Resume, Will It Fall Further?
  • Ethereum Price Forecast: BitMine scoops 32K ETH, hints at further gains
  • Iran and Oman push talks for ‘interim’ reopening of Hormuz — Bloomberg
  • Note: If you want to share the article 《WTI crude oil futures still have further downside potential? 》, make sure you retain the original link. For more information, please visit Insights or browse www.mitrade.com.

    * The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

    goTop
    quote
    Related Articles
    placeholder
    TradingKey Daily Market Briefing: Nvidia Earnings Beat Expectations, Strong PCE Inflation Weighs on Market Sentiment as Focus Turns to Jackson Hole Meeting On August 26, Eastern Time, the three major U.S. stock indices closed slightly lower. U.S. July PCE inflation data came in slightly strong, reinforcing market concer
    Author  TradingKey
    2 hours ago
    On August 26, Eastern Time, the three major U.S. stock indices closed slightly lower. U.S. July PCE inflation data came in slightly strong, reinforcing market concer
    placeholder
    WTI Crude Oil Price Forecast: Oil Plunges Nearly 5% as US-Iran Talks Expected to Resume, Will It Fall Further? As of the Asian session on August 26, WTI crude oil (USOIL) prices extended yesterday's decline, dropping to an intraday low of $80.26 and approaching the $80 threshold at one point, down
    Author  TradingKey
    17 hours ago
    As of the Asian session on August 26, WTI crude oil (USOIL) prices extended yesterday's decline, dropping to an intraday low of $80.26 and approaching the $80 threshold at one point, down
    placeholder
    Iran and Oman push talks for ‘interim’ reopening of Hormuz — BloombergIranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, Bloomberg reported on Tuesday.
    Author  FXStreet
    Yesterday 01: 55
    Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, Bloomberg reported on Tuesday.
    placeholder
    WTI rises to near $85.00 amid escalating US-Iran tensionsWest Texas Intermediate (WTI) oil price extends its gains for the fourth consecutive day, trading around $84.80 per barrel during the Asian hours on Wednesday.
    Author  FXStreet
    Aug 19, Wed
    West Texas Intermediate (WTI) oil price extends its gains for the fourth consecutive day, trading around $84.80 per barrel during the Asian hours on Wednesday.
    placeholder
    WTI consolidates below $84.50, two-week top as bullish bias remains amid Hormuz standoffWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its consolidative price move through the first half of the European session and currently trades near the $84.25-$84.30 area, close to a two-week high set earlier this Tuesday.
    Author  FXStreet
    Aug 18, Tue
    West Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its consolidative price move through the first half of the European session and currently trades near the $84.25-$84.30 area, close to a two-week high set earlier this Tuesday.
    Live Quotes
    Name / SymbolChart% Change / Price
    UKOIL
    UKOIL
    0.00%0.00
    USOIL
    USOIL
    0.00%0.00
    UKOIL-F
    UKOIL-F
    0.00%0.00
    USOIL-F
    USOIL-F
    0.00%0.00

    Oil Related Articles

    • Best Oil Trading Platforms in 2026: A Complete Guide for Retail Traders
    • Should I Invest in Oil Right Now? The 2026 Oil Price Forecast
    • Crude Oil Trading: How To Invest In WTI/Brent Oil?
    • WTI Moves Upward Near $75.50 on Dovish Fed Outlook, Maersk, CMA CGM Return to Red Sea

    Click to view more