Open interest in crude oil futures markets dropped for the second session in a row on Friday, now by more than 10K contracts according to preliminary readings from CME Group. On the flip side, volume went down for the second straight session, now by nearly 28K contracts.
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Western Texas Intermediate (WTI) Crude oil prices come under renewed selling pressure on Wednesday and reverse a major part of the previous day's positive move. The intraday downfall picks up pace during the early part of the European session and drags the commodity to a fresh daily low, around the $70.25 region in the last hour.
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High Oil Prices Lift Saudi Arabia, Bolster Prince's Economic Plans https://www.wsj.com/articles/high-oil-prices-lift-saudi-arabia-bolster-princes-economic-plans-11670446489 #EconomicPerformance/Indicators #Commodity/FinancialMarketNews #EconomicPredictions/Forecasts #GovernmentBudget/Taxation #EconomicGrowth/Recession #Political/GeneralNews #economicperformance #financialmarketnews #economicpredictions #C&EExclusionFilter #c&eexclusionfilter #GovernmentFinance #MohammedbinSalman #CrudeOilMarkets