Commodity Corner
Views on commodities and energy
Open Interest in U.S. Crude Oil Futures
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commodity futures markets | crude | crude oil | crude oil futures | fuel demand | futures | global economic crisis | oil | open interest
Open interest and trading volumes in commodity futures markets have shown some resilience at the start of 2009 despite the dramatic price slides triggered by the economic downturn.
In the fourth quarter of 2008, open interest in U.S. crude oil futures fell to levels not seen since mid-2006 as the global economic crisis hit fuel demand and sent prices tumbling, before rebounding.
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this graph raises a question the number of contracts depends on the level of oil prices or on the level of economic activity ?