Crude Oil Futures: Further losses in the pipeline

CME Group’s flash data for crude oil futures markets noted traders added around 6.7K contracts to their open interest positions on Friday, extending the uptrend for the third session in a row. Volume, instead, resumed the downward trend and shrank by nearly 257K contracts.

WTI: Another test of $72.00 is not ruled out

Prices of the WTI extended their downtrend on Friday amidst rising open interest, which leaves the door open to the continuation of this move to, initially, the area of November lows near the $72.00 mark per barrel (November 16).