WTI crude oil futures still have further downside potential?
Trending Articles- Gold Price Forecast: Gold May Break $4,500 as Fed Rate-Hike Expectations Continue to Cool
- Gold gains momentum to near $4,400 as Fed hike expectations drop despite Us-Iran tensions
- Forex Today: US Dollar stabilizes ahead of next batch of US data
- Australian Dollar gains as US Dollar struggles amid fading Fed rate hike bets
- WTI declines below $82.50 as oil inventories rise far more than expected
- Copper Price Forecast: Tight Supply Pushes Price Above $14,000, Can Copper Reach $15,000?
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
* 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.
