Crude Oil Futures: Recovery stays well and sound

Traders added around 11.6K contracts to their open interest positions in crude oil futures markets on Monday, reaching the fourth consecutive daily build in a row considering flash data from CME Group. Volume followed suit and went up by around 38.9K contracts, reversing two daily drops in a row.

WTI still targets $70.00

Prices of the WTI edged higher on Monday amidst rising open interest and volume. Against this, there is scope for the continuation of the recovery with the next target at the key $70.00 mark per barrel.