Crude Oil Futures: Rally has further legs to go

CME Group’s advanced figures for Crude Oil futures markets noted open interest rose for the third session in a row on Tuesday, now by around 16.3K contracts. In the same line, volume went up by around 402.5K contracts, the largest single day build since November 10.

WTI reaches 8-month highs beyond $45.00

The rally in prices of the WTI remains well and sound and manages to regain the $45.00 mark per barrel and beyond. Rising open interest amidst this positive price action opens the door to the continuation of the uptrend in the very near-term. That said, the next hurdle of significance emerges at the psychological $50.00 mark.