Crude Oil Futures: Further gains in the pipeline

CME Group’s flash readings for crude oil futures markets noted traders added around 17.3K contracts to their open interest positions on Wednesday. In the same line, volume went up for the third session in a row, this time by nearly 66K contracts.

WTI shifts the focus to $65.00

Prices of the West Texas Intermediate rose beyond the $61.00 mark per barrel on Wednesday. The uptick was amidst increasing open interest and volume, exposing a probable visit to the YTD highs near the $64.00 mark in the short-term horizon. Further up comes in the 2020 highs in the $65.60 zone.