Crude Oil Futures: Extra losses not ruled out

According to flash data from CME Group for crude oil futures markets, traders increased their open interest positions for the second session in a row, this time by nearly 21.1K contracts. On the other hand, volume shrunk for the second consecutive session, now by around 198.2K contracts.

WTI stays supported around $36.00/bbl

Thursday’s negative price action in the WTI was accompanied by rising open interest, which is supportive of further downside in the very short-term. That said, recent lows in the $36.00 region are expected to hold occasional bearish attempts for the time being.