Crude Oil Futures: Rally remains well and sound

CME Group’s flash data for crude oil futures markets noted open interest rose for the second session in a row on Thursday, this time by around 30K contracts. Volume followed suit and rose by the most since March 9 2020 by around 1.165M contracts.

WTI keeps targeting $100.50

Prices of the barrel of WTI briefly advanced past the key $100.00 mark on Thursday, although it ended the session with modest gains around $93.00. The uptick was in tandem with increasing open interest and volume, which is supportive of the continuation of the uptrend for the time being.