Crude Oil Futures: Extra gains appears likely

CME Group’s flash data for crude oil futures markets noted traders added nearly 7K contracts to their open interest positions on Monday, reaching the fifth consecutive daily advance. Volume, instead, dropped for the second session in a row, now by around 53K contracts.

WTI stays capped by $109.00

Prices of the WTI started the week with decent gains in tandem with rising open interest, which leaves the door open to further upside in the very near term. Therefore, further upside momentum could encourage the commodity to challenge the monthly high around the $109.00 mark per barrel (April 18).