CME Group’s advances figures for Crude Oil futures markets noted traders increased their open interest positions for the third session in a row on Tuesday, this time by around 8.8K contracts. Volume followed suit and rose by nearly 55.5K contracts, reaching the third consecutive daily build.
Prices of the WTI rose markedly on Tuesday against the backdrop of increasing open interest and volume. That said, further upside now appears on the table with the immediate target at the monthly peaks beyond the $64.00 mark per barrel in the near-term.
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