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June, 05 - Crude Oil Futures: Cautiously Positive

Traders scaled back their open interest positions in crude oil futures markets

0506oilfuturesby almost 9K contracts on Thursday according to preliminary figures from CME Group. In the same line, volume shrunk markedly by around 352.8K contracts.

Prices of the WTI advanced within a tight range on Thursday amidst shrinking open interest and volume. Despite a correction lower appears on the cards in the very near-term, the West Texas Intermediate still aims for a visit to the key barrier at the $40.00 mark per barrel.

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