Crude Oil Futures: Scope for extra losses

CME Group’s flash data for Crude Oil futures markets noted traders increased their open interest positions and volume by around 6.7K contracts and by around 46.3K contracts, respectively, on Friday.

WTI looks supported just below $61.00

Prices of the WTI closed Friday with moderate losses against the backdrop of the persistent uptrend in open interest and volume. In this context, further retracement remains on the cards, although sellers are expected to meet firm contention just below the $61.00 mark per barrel for the time being.