Crude Oil Futures: Scope for extra gains
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Considering advanced prints from CME Group for crude oil futures markets, traders added around 9.2K contracts to their open interest positions after three daily drops in a row on Monday. Volume, instead, remained erratic and went down by around 61.4K contracts.
WTI prices started the week on a strong foot and surpassed the $97.00 mark amidst increasing open interest. Against that, further advance remains on the cards for the commodity in the very near term and with the next target at the key $100.00 mark per barrel.
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