CRUDE OIL FUTURES: EXTRA GAINS ON THE CARDS

According to flash data for Crude Oil futures markets from CME Group, traders added nearly 6K contracts to their open interest positions at the beginning of the week, extending Friday’s build. Volume, instead, reversed the previous uptick and dropped by around 123.1K contracts.

WTI TARGETS $67.00

Prices of the WTI posted decent gains on Monday amidst increasing open interest. That said, there is scope for a move to the monthly high in the $67.00 region in the very near-term. The moderate drop in volume, however, could prompt the commodity to attempt some consolidation ahead of further upside.