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Crude Oil Futures: Door open to extra gains
CME Group’s flash data for crude oil futures markets noted traders increased their open interest positions for yet another session on Wednesday, this time by around 3.1K contracts. In the same line, volume rose for the third consecutive session, now by around 35.2K contracts.
WTI: Focus is now on the October high at $93.62
Prices of the WTI added to the weekly recovery and briefly surpassed the key $90.00 mark per barrel on Wednesday. The uptick was amidst increasing open interest and volume and this opens the door to a probable challenge of the October peak at $93.62 in the very near term.
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