Crude Oil Futures: Further consolidation on the cards

CME Group’s flash data for Crude Oil futures saw open interest rising by around 2.3K contracts on Friday following two consecutive daily pullbacks. Volume, instead, shrunk for the second session in a row, this time by around 310.4K contracts.

WTI still navigates below $42.00

The barrel of WTI is poised to extend the consolidative theme amidst the inconclusive performance in both open interest and volume. That said, the $42.00 mark per barrel continues to cap the upside ahead of the August’s peak around $43.75.