Crude Oil Futures: Extra gains on the cards

Traders increased their open interest positions by around 7.7K contracts on Friday according to advanced figures from CME Group. Volume followed suit and went up by around 334.2K contracts.

WTI meets the $40.00 mark

Prices of the WTI are already trading around the key $40.00 mark per barrel at the beginning of the week. Further upside does look on the table in light of Friday’s uptick against the backdrop of rising open interest and volume. That said, the 200-day SMA emerges around the $46.00 mark.