Crude Oil Futures: Green light for extra gains

CME Group’s flash data for crude oil futures markets saw investors add more than 33K contracts to their open interest positions on Thursday, reaching the second consecutive daily build. Volume followed suit and rose markedly by around 160.6K contracts, reversing the previous day’s pullback.

WTI keeps targeting $115.50 ahead of $116.60

Prices of the barrel of WTI advanced strongly on Thursday and closed above the $114.00 mark amidst increasing open interest and volume. Against that, there is now room for the continuation of the rebound with the immediate target at the weekly highs at $115.53 (May 17) ahead of $116.61 (March 24).