Crude Oil Futures: Rally stays well and sound

CME Group’s advanced prints for crude oil futures markets noted open interest reversed three consecutive daily drops and increased by nearly 24K contracts on Wednesday. Volume, instead, shrunk for the third session in a row, this time by around 92.3K contracts.

WTI: The hunt for the $65.00 mark

Crude oil prices keep navigating the area of yearly highs well above the key $60.00 mark per barrel. Wednesday’s moderate uptick in prices of the WTI was amidst rising open interest, leaving the door open for the continuation of the current trend in the very near-term and with the next target unaltered at the 2020 highs in the $65.60 region.