Home Crude Oil Futures: Potential for further gains

Crude Oil Futures: Potential for further gains

Published date: 12 Mar. 2021 | 07:46

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.

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