Crude Oil Futures: Recovery looks firm… for now

Investors added nearly 22.1K contracts to their open interest positions in Crude Oil futures markets on Wednesday, clinching the third consecutive build in light of advanced data from CME Group. Volume, instead, reversed two straight pullbacks and went down by around 684.6K contracts.

WTI headed towards $20.00/bbl?

The recovery in prices of the WTI was accompanied by rising open interest on Wednesday, allowing for the continuation of this trend in the short-term at least. Against this, the key $20.00 mark per barrel looks as an ambitious target in the next weeks.