Crude Oil Futures: Scope for extra upside

CME Group’s flash data for petroleum futures markets noted traders increased their open interest positions for the fifth consecutive session on Thursday, now by around 11.1K contracts. On the opposite hand, volume dropped by nearly 53.1K contracts, reaching the second daily pullback during a row.

WTI on its thanks to 2021 highs
WTI clinched fresh monthly tops on Thursday against the backdrop of the continuation of the uptrend in open interest. That said, extra advances remain on the table with the immediate target at the YTD peaks around the $68.00 mark per barrel (March 8).

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