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Crude Oil Futures: Door open to extra gains
Considering advanced prints from CME Group for crude oil futures markets, open interest resumed the uptrend and went up by nearly 5K contracts on Tuesday, leaving behind the previous daily drop. Volume, instead, shrank for the second session in a row, this time by around 63.5K contracts.
WTI: Upside appears capped by $70.00
Prices of the barrel of the WTI advanced markedly on Tuesday. The move was amidst increasing open interest and favours the continuation of the rebound in the very near term. That said, the next hurdle of note for the commodity comes at the key $70.00 mark per barrel.
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