Crude Oil Futures: Scope for further losses

Considering preliminary readings from CME Group for crude oil futures markets, open interest rose for the third straight session, albeit by just 403 contracts, on Monday. Volume followed suit and increased for the second session in a row, this time by around 97.4K contracts.

WTI could revisit $95.00 near term

Prices of the WTI dropped sharply on Monday amidst rising open interest and volume, exposing the continuation of the corrective downside in the very near term. That said, the next support of note remains intact around the $95.00 region per barrel.