Crude Oil Futures: Scope for extra consolidation

CME Group’s preliminary figures for Crude Oil futures markets saw open interest shrinking for the second session in a row on Tuesday, this time by nearly 2K contracts. On the opposite side, volume went up markedly by around 214.6K contracts.

WTI looks side-lined just below $40.00/bbl

The barrel of WTI continues to trade within a consolidative mood, always near the key barrier at the $40.000 mark. That said, extra rangebound remains well in the pipeline for the commodity amidst inconclusive trends in both open interest and volume.