Crude Oil Futures: Further rangebound on the cards

CME Group’s preliminary figures for Crude Oil futures markets noted open interest went up for the fourth consecutive session on Monday, this time by almost 11.5K contracts. In the same line, volume rose by around 42.5K contracts after three consecutive daily pullbacks.

WTI looks stabilized below $40.00/bbl

Prices of the WTI charted an inconclusive session at the beginning of the week. The move was in tandem with rising open interest and volume, leaving the door open to extra consolidation in the short-term horizon, always below the $40.00 mark for the time being.