Crude Oil Futures: Green light to extra gains near term

Open interest in gold futures markets reversed three consecutive daily pullbacks and rose by around 2.4K contracts on Wednesday according to preliminary readings from CME Group. Volume followed suit and increased for the third session in a row, this time by around 280.4K contracts.

WTI now looks at $90.00 and beyond

Prices of WTI continued its march north on Wednesday and reached new yearly highs past the $84.00 mark per barrel. The uptick was on the back of increasing open interest and volume, which is indicative that further gains appear in store in the very near term. Against that, the next target for the commodity emerges at the key $90.00 per barrel ahead of the November 2022 high of $93.73 (November 7).