Crude Oil Futures: Recovery could extend further
|CME Group’s advanced figures for Crude Oil futures markets noted open interest rose for the second session in a row at the beginning of the week, now by around 7K contracts. Volume followed suit and also increased for the second consecutive day, this time by around 2.5K contracts.
WTI now targets $64.00 and above
Prices of the WTI dropped and rebounded from 2-day lows and closed the day with marginal losses amidst rising open interest and volume. Against this, extra gains are now likely in the very near-term with the immediate target at the recent monthly tops above the $64.00 mark per barrel (April 20).
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