Crude Oil Futures: Recovery has further legs to go

Considering preliminary readings from CME Group for crude oil futures markets, traders added just 432 contracts to their open interest positions on Wednesday, the first build since March 10. Volume followed suit and went up for the third straight session, this time by around 28.3K contracts.

WTI: Next on the upside comes the 2022 high

Prices of the WTI charted a moderate uptick on Wednesday amidst rising open interest and volume. Against that, crude oil prices look poised to extend the uptrend with the next barrier of note at the multi-year peaks near the $130.00 mark per barrel (March 8).