Crude Oil Futures: Neutral outlook still prevails

CME Group’s flash prints for crude oil futures markets showed open interest went down for the fourth consecutive session on Friday, this time by nearly 8K contracts. Volume, instead, shrunk for the second straight session, now by around 31.7K contracts.

WTI poised for extra rangebound

Prices of the WTI keep the consolidative mood around the $40.00 mark per barrel amidst rising open interest. That said, further consolidation remains on the cards in the near-term, so far underpinned by the 100-day SMA in the $39.00 zone.