Crude Oil Futures: Further upside in the pipeline

CME Group’s flash prints for crude oil futures markets noted open interest rose for the third consecutive session on Wednesday, now by nearly 9.2K contracts. Volume, instead, keeps the choppiness unaltered and shrunk by around 67.2K contracts.

WTI still targets the $41.50 region

Prices of the WTI keep the positive mood so far this week. Rising open interest coupled with Wednesday’s uptick opens the door to extra gains in the short-term horizon, always with the initial target at the $41.50 level.