Considering advanced prints from CME Group for crude oil futures markets, open interest went down for the second straight session on Tuesday, this tim
e by around 10.3K contracts. Volume, on the other hand, reversed two consecutive daily pullbacks and rose by nearly 226K contracts. WTI remains supported around $81.50 WTI prices saw their decline gather further pace on Tuesday.
The daily retracement came amidst diminishing open interest and hints at the idea that a more sustained drop appears to be losing traction. Furthermore, the commodity is expected to meet the next contention area around $81.50 per barrel in the very short term.
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