Crude Oil Futures: Door open to further upside

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CME Group’s flash figures for crude oil futures markets noted open interest increased for the second session in a row on Monday, this time by nearly 19K contracts. In the same direction, volume reversed two daily pullbacks in a row and went up by nearly 96K contracts.

WTI in 2021 highs, looks to $60.00

Prices of the WTI extended the upside on Monday amidst rising open interest and volume, which is supportive of the continuation of the uptrend, at least in the very near-term. That said, the West Texas Intermediate keeps the longer-term target at the key $60.00 mark per barrel for the time being.

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