Crude Oil Futures: Consolidative mood remains well in place

CME Group’s flash data for Crude Oil futures markets noted open interest and volume extended the downtrend for yet another session on Wednesday, shrinking by nearly 7K contracts and by around 18.9K contracts, respectively.

WTI still capped by $44.00

There is no change in the broad consolidation theme around prices of the West Texas Intermediate, which remain side-lined around the 200-day SMA ($41.97) and still below the $44.00 barrier per barrel for the time being.