Crude Oil Futures: Further losses in the pipeline

CME Group’s flash data for Crude Oil futures markets noted open interest went up by nearly 25.3K contracts on Tuesday, reversing three consecutive daily pullbacks. Volume followed suit and rose markedly by around 351.5K contracts.

WTI likely topped near $65.00

Prices of the WTI edged lower on Tuesday after hitting multi-week highs near the $65.00 mark. The move was amidst rising open interest and volume, indicative that further downside lies ahead. That said, there is strong contention in the $57.50 region for the time being.