Crude Oil Futures: Scope for extra gains

CME Group’s flash data for Crude Oil futures markets noted open interest increased for the fourth straight session on Wednesday, this time by nearly 11.5K contracts. In the same line, volume extended the uptrend for yet another session and added around 67.6K contracts.

WTI now aims for 2021 highs near $68.00

Prices of the WTI clinched new monthly tops near $64.50 on Wednesday, albeit closing a tad lower afterwards. The move was amidst rising open interest and volume, opening the door to extra upside in the very near-term and with the next target at the YTD peaks just below the $68.00 mark per barrel (March 8).