Crude Oil Futures: Recovery Could Lose Momentum
04.26.2023 By Tank Terminals - NEWS

April 26, 2023 [FXS] – CME Group’s flash data for crude oil futures markets noted traders reduced their open interest positions by around 22.1K contracts at the beginning of the week, adding to the ongoing downtrend. Volume followed suit and went down for the second straight session, this time by around 20.2K contracts.

 

WTI faces the next up barrier around $80.00

Monday’s uptick in prices of the WTI came on the back of diminishing open interest and volume and poured cold water over expectations of further gains in the very near term. On the upside, the key $80.00 mark per barrel emerges as a key initial barrier for bulls.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

BASF and Stolt Tankers Introduce the Low-Water Chemical Tanker Stolt Ludwigshafen During Ship Christening Ceremony
05.29.2023 - NEWS
May 29, 2023 [Stolt Neilsen]- On May 26, 2023, the new low-water inland tanker Stolt Ludwigshafen... Read More
Turkey, Iraq Seek to Boost Trade at Summit in Erbil
05.29.2023 - NEWS
May 29, 2023 [Rudaw]- Erbil on Sunday hosted the seventh Turkey-Iraq investment and trade summit,... Read More
Oil Supply won't be Affected by Stricter Price Cap Enforcement, IEA says
05.29.2023 - NEWS
May 29, 2023 [Reuters]-  “It may have some impact but countries once again reiterated that... Read More
Hedge Funds’ Ultra-Bearish Oil Bets Signal US Recession Angst
05.29.2023 - NEWS
May 29, 2023 [The Business Times]- MONEY managers who trade derivatives linked to oil and fuel p... Read More