Preliminary data from CME Group for the oil futures markets Crude oil note that traders reduced their open interest positions by about 2,700 contracts at the start of the week, keeping choppy activity unchanged. Volume followed suit and dropped by around 168,300 contracts, partially reversing previous daily accumulation.
WTI finds a hard barrier above $80.00
barrel prices WTI they extended the rebound and reached the key $80.00 per barrel area on Monday. The continuation of the uptrend came amid declining open interest and volume and suggests that a sustainable move beyond this key resistance zone (where the maximums of February and so far in March coincide) not favorable at the moment.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
