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Crude Oil Futures: Extra gains on the cards

February 1, 2022 by admin 0 Comments

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CME Group’s preliminary readings for crude oil futures markets noted open interest increased by around 4.5K contracts after two daily pullbacks in a row. Volume, instead, resumed the downside and shrank by around 88.7K contracts.

WTI now looks to $90.00… and $100.00

The rally in WTI prices remained unabated on Monday. Indeed, the commodity managed to finally close above the $88.00 mark per barrel amidst rising open interest and leaves the door open to further upside in the very near term, with the immediate target at the $90.00 mark.