Considering advanced prints from CME Group for crude oil futures markets, open interest reversed two consecutive daily pullbacks and increased by arou
nd 27.6K contracts on Tuesday. On the other hand, volume dropped for the third straight session, this time by nearly 95K contracts.
WTI: Another test of the October low remains on the cards Prices of WTI retreated modestly on Tuesday amidst rising open interest, which leaves the door open to further decline in the very near term. Against this, prices of the commodity could still slip back to the so far monthly lows around $81.50 .
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Global Crude Oil Prices Surge Amid Israel-Hamas ConflictI am a Breaking News Reporter at Forbes, with a focus on covering important tech policy and business news. Graduated from Columbia University with an MA in Business and Economics Journalism in 2019. Worked as a journalist in New Delhi, India from 2014 to 2018. Have a news tip? DMs are open on Twitter SiladityaRay or drop me an email at siladityaprotonmail.com.
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