Crude Oil Futures: Further range bound in store

CME Group’s flash data for crude oil futures markets noted traders added nearly 11K contracts to their open interest positions at the beginning of the week. Volume, instead, reversed the previous daily builds and went down by more than 151K contracts.

WTI faces extra consolidation around $72.00

Monday’s inconclusive price action left in WTI with humble gains near the $72.00 mark per barrel. The move was amidst rising open interest and declining volume, opening the door some near-term consolidation around current levels.