Crude Oil Futures: Scope for extra gains

CME Group’s flash data for crude oil futures markets noted traders added nearly 11K contracts their open interest positions on Wednesday. Volume, instead, went down by around 219K contracts after three consecutive daily builds.

WTI: Next on the upside comes $115.00

Prices of the WTI extended the rebound on Wednesday in tandem with rising open interest, allowing for the continuation of the recovery in the very near term. That said, the commodity is expected to face the next target at the weekly high near the $115.00 mark (March 24).