Crude Oil Futures: Scope for extra gains

CME Group’s flash data for crude oil futures markets noted traders added around 12.4K contracts to their open interest positions on Tuesday, reversing at the same time six consecutive daily drops. On the other hand, volume shrank by around 97.7K contracts, partially reversing the previous build.

WTI keeps targeting $95.00

Prices of the WTI rose sharply on Tuesday amidst rising open interest. That said, extra gains appear in store for crude oil, with the next target of note at the $95.00 region per barrel in the near term.