Crude Oil Futures: Further gains in the pipeline

CME Group’s flash data for crude oil futures markets noted traders increased their open interest positions for the third consecutive session on Tuesday, now by around 15.5K contracts. In the same direction, volume extended its uptrend and went up by around 47.5K contracts.

WTI: Immediately to the upside comes $90.00

WTI prices extended their rally to the $88.00 region per barrel on Tuesday. The daily uptick was accompanied by increasing open interest and volume and leaves the door open to the continuation of the current move in the very near term. Against that, the next hurdle for bulls appears at the key $90.00 mark.