Crude Oil Futures: Green light to further gains

CME Group’s flash data for crude oil futures markets saw traders add around 1.2K contracts to their open interest positions on Tuesday, extending the choppy activity seen in past sessions. Volume followed suit and rose for the second consecutive session, this time by around 44.8K contracts.

WTI now looks to a test of $90.00 and above

Prices of the WTI went up for the second straight session on Tuesday on the back of increasing open interest and volume. That said, the continuation of the ongoing rebound appears likely in the very near term and with the immediate resistance at the $90.00 mark per barrel and beyond.