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Crude Oil Futures: Door open to extra gains
Open interest in crude oil futures markets rose for the third consecutive session on Thursday, this time by more than 9K contracts considering advanced prints from CME Group. On the other hand, volume went down sharply by around 265.2K contracts after three daily builds in a row.
WTI: Next target emerges at the $90.00 mark
Prices of the WTI extended the upside for the fourth straight session on Thursday. The move was on the back of rising open interest, allowing for further advances in the very near term. The sharp drop in volume, however, could slow the pace of the move, while the commodity continues to target the $90.00 mark per barrel and beyond.
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