Crude Oil Futures: Upside momentum unabated
|CME Group’s preliminary readings for crude oil future markets noted traders partially reversed Friday’s pullback and rose by around 5.6K contracts at the beginning of the week. Volume, instead, went up sharply by around 472.1K contracts after two daily builds in a row.
WTI on its way to $65.00 and above
The rally in crude oil prices remains well and sound and manages to record new 2021 highs beyond $62.00 on Tuesday. Monday’s strong advance in WTI was accompanied by rising opening interest, leaving the door open to extra upside with the immediate target at the 2020 high in the $65.60 area per barrel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.