Crude Oil Futures: Scope for extra gains

Pablo Piovano FXStreet

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).

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.

EUR/USD onsolidates around mid-1.1800s as traders keenly await FOMC Minutes

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Gold bounces back toward $4,900, looks to FOMC Minutes

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UK jobs market weakens, bolstering rate cut hopes

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