Crude Oil Futures: Correction lower in the offing

Investors trimmed their open interest positions in Crude Oil futures markets for the fifth consecutive session on Friday, this time by around 17.9K contracts as per flash data from CME Group.

WTI: Door open for further retracement

Friday’s positive session in the West Texas Intermediate saw prices advancing in a context of decreasing open interest and volume, all supportive of the idea that a pullback could be shaping up in the near term.