Crude Oil Futures: Rising odds for further consolidation

CME Group’s flash data for crude oil futures markets noted traders extended the uptrend in open interest for the 4^th session in a row on Thursday, this time by around 12.4K contracts. Volume followed suit and rose for the thirds straight session, now by around 63.1K contracts.

WTI remains focused on $90.00 and above

Prices of the WTI extended the weekly recovery on Thursday. The small uptick was in tandem with increasing open interest and volume and opens the door to some consolidation in the very near term and with the immediate target at the $90.00 mark per barrel and beyond.