Record open interest in oil as crude surges 12%

Oil
By GlobalCapital
02 Nov 2017

The West Texas Intermediate light, sweet crude oil futures on CME Group’s Nymex exchange have swelled to record open interest this week, as the oil price has leapt 12% higher in the last three weeks.

On Wednesday the open interest in WTI futures hit 2.52m contracts, its third record this week. The open interest has now risen by over 20% since the start of the year.

Much of the rise in volume is seen as a result of the rise in the ...

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