Crude Oil Futures: Further downside looks not favoured

Considering advanced prints from CME Group for crude oil futures markets, open interest kept the downtrend unchanged on Friday, this time by around 13.5K contracts. In the same line, volume shrank for the third session in a row, now by around 30.3K contracts.

WTI continues to target $95.05

Prices of the barrel of the WTI ended Friday’s session with losses after briefly surpassing the $92.00 mark. The downtick was amidst shrinking open interest and volume, hinting at the idea that extra losses are no favoured in the very near term. Further upside continues to target recent tops around the $95.00 mark.