Crude Oil Futures: Recovery appears somewhat dented

Open interest in crude oil futures markets dropped by more than 14K contracts after four consecutive daily builds on Wednesday, according to preliminary readings from CME Group. On the other hand, volume increased for the second straight session, now by around 21.1K contracts.

WTI: Initial resistance emerges around $82.00

Prices of WTI rose for the second session in a row and briefly tested multi-day highs around the $82.00 mark per barrel on Wednesday. The daily advance came in tandem with shrinking open interest and suggests that a near term top could have emerged at that level for the time being.