Crude Oil Futures: Scope for extra gains

CME Group’s flash data for crude oil futures markets noted open interest rose for the second session in a row at the beginning of the week, this time by around 16.5K contracts. Volume followed suit and went up by around 260.2K contracts.

WTI now looks to $40.00 mark

WTI prices rallied nearly 4% on Monday on the back of rising open interest and volume. Against this, further upside remains on the cards and initially targets the key barrier at the $40.00 mark per barrel.