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Platts

Platts publishes key energy price assessments and news.

Open interest represents the total number of outstanding derivative contracts, such as futures or options, that have not been settled or closed.

High open interest indicates active participation and liquidity, while declining open interest may signal position unwinding. Traders use this metric to gauge market strength.

In oil markets, open interest trends provide insight into speculative positioning, commercial hedging, and potential support or resistance levels.

Monitoring open interest alongside price action is crucial for informed trading decisions.