Crude Oil Futures: Further upside in the pipeline

Pablo Piovano FXStreet

CME Group’s preliminary readings for crude oil futures markets noted traders increased their open interest positions by around 15.4K contracts on Wednesday, resuming the upside following Tuesday’s pullback. Volume followed suit and went up by around 138K contracts.

WTI looks to regain $46.00 and beyond

Prices of the barrel of WTI reversed two session with losses on Wednesday. The positive performance was on the back of rising open interest, leaving the door open for extra upside to, initially, recent peaks above the $46.00 mark per barrel.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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