wti08052020Open interest in crude oil futures markets extended the choppy activity and rose marginally by just 44 contracts on Thursday.

Prices of the WTI lost some momentum in the last couple of sessions amidst the erratic performance in both open interest and volume, leaving the outlook somewhat mixed for the time being. That said, the barrel of WTI is expected to meet a strong hurdle in the $28.00 neighborhood in the short-term horizon.