Crude Oil Futures: Extra gains in store
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Considering advanced prints from CME Group for crude oil futures markets, open interest increased for the third straight session on Thursday, now by around 1.3K contracts. Volume, instead, reversed two consecutive daily gains and went down by around 169.2K contracts.
Thursday’s bounce in prices of WTI was on the back of a small build in open interest, suggesting that potential gains appear in the pipeline in the very near term. Against that, the next up-barrier of note comes at the recent tops near the $75.00 mark per barrel (May 24).
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