Crude Oil Futures: Recovery has further legs to go

In light of preliminary readings from CME Group for crude oil futures markets, open interest went up by around 21.5K contracts on Wednesday, reversing the previous drop. On the other hand, volume decreased by around 506.5K contracts following two builds in a row.

WTI: The $40.00 mark is back on the horizon

Crude oil prices rebounded from the $36.00 mark per barrel on Wednesday amidst rising open interest. Therefore, the continuation of the recovery appears on the cards in the very short-term and with WTI now targeting the $40.00 mark.