Crude Oil Futures: Upside seen limited

CME Group’s flash data for crude oil futures markets noted open interest extended the downtrend on Friday by nearly 3.3K contracts while volume went down by around 17.5K contracts.

WTI: Move lower looks overdue

The barrel of WTI dropped to multi-day lows although it managed to close Friday with small losses amidst decreasing open interest and volume. In the meantime, the persistent downtrend in open interest should keep the upside somewhat contained, with strong resistance near the $35.00 mark per barrel.