CME Group’s flash data for crude oil futures markets noted traders added around 9.2K contracts to their open interest positions on Tuesday, reversing two consecutive daily pullbacks. Volume, instead, shrank for the second straight session, now by around 55.6K contracts.
WTI poised for further upside
Prices of the WTI closed Tuesday’s session with decent gains amidst rising open interest. That said, the continuation of the rally appears likely in the very near term and with the next target at the $75.00 area per barrel.
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