Crude Oil Futures: Rally remains well and sound

Pablo Piovano FXStreet

CME Group’s flash data for crude oil futures markets noted open interest rose for the second session in a row on Thursday, this time by around 30K contracts. Volume followed suit and rose by the most since March 9 2020 by around 1.165M contracts.

WTI keeps targeting $100.50

Prices of the barrel of WTI briefly advanced past the key $100.00 mark on Thursday, although it ended the session with modest gains around $93.00. The uptick was in tandem with increasing open interest and volume, which is supportive of the continuation of the uptrend for the time being.

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.

AUD/USD eyes 0.7150 barrier nine-day EMA

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