CME Group’s flash data for crude oil futures markets noted open interest and volume went down by around 7.5K contracts and by nearly 239K contracts, respectively, on Monday.

WTI: FURTHER GAINS ON THE TABLE

Monday’s small pullback in prices of the WTI was amidst shrinking open interest and volume, removing sustainability from the drop and leaving the idea of further upside well on the cards for the time being. Against this, the next target of note is located at the February 2020 high at $54.45 per barrel.