Crude Oil Futures: Extra gains on the cards
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Considering advanced prints from CME Group for crude oil futures markets, traders increased their open interest positions for the second session in a row on Tuesday, now by around 19.3K contracts. In the same line, volume went up by around 272.6K contracts after two daily drops in a row.
Tuesday’s decent uptick in prices of the barrel of the WTI was in tandem with rising open interest and volume, exposing the continuation of the ongoing rebound in the very near term. Against that, the next hurdle of note is now expected at the December 2022 high at $83.32 (December 1).
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