Crude Oil Futures: Downside pressure persists

Traders kept adding contracts to their open interest positions in Crude Oil futures markets on Monday, this time by more than 5K contracts according to preliminary figures from CME Group. Volume, in the same line, increased by around 931.5K contracts, the largest single day increase since March 12.

WTI: Outlook remains fragile

Monday’s collapse in prices of the barrel of the West Texas Intermediate to historic levels was amidst rising open interest and volume, leaving the extremely fragile outlook in the commodity unchanged and unlikely to be altered as long as the current demand crunch does not subside (or reverse).