Crude Oil Futures: Scope for extra gains

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CME Group’s flash data for crude oil futures markets noted traders increased their open interest positions for the second session in a row on Friday, now by around 4.4K contracts. On the other hand, volume added to the previous daily pullback and dropped by around 301.6K contracts.

Prices of the barrel of the WTI picked up pace at the end of last week amidst rising open interest, which is indicative than extra recovery appears on the cards in the very near term. So far, the commodity seems well supported around the $68.00 region.

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