Crude Oil Futures: Potential for further gains

CME Group’s flash data for Crude Oil futures markets noted traders added around 30.8K contracts to their open interest positions on Thursday, reaching the second build in a row. Volume, instead, shrunk for the second consecutive day, now by around 118.4K contracts.

WTI now looks to 2021 highs near $68.00

Prices of the WTI surpassed the $65.00 mark per barrel on Thursday amidst rising open interest. The move higher is therefore expected to continue with the next target at the yearly highs near the $68.00 mark (March 8) in the very near-term.