Crude Oil Futures: Door open to further advance

CME Group’s flash data for crude oil futures markets saw traders add nearly 65K contracts to their open interest positions on Thursday, reversing at the same time two daily pullbacks in a row. Volume followed suit and rose by almost 71K contracts.

WTI approaches $110.00/bbl

Prices of the WTI extended the weekly rebound beyond the $108.00 mark on Thursday in tandem with increasing open interest and volume. That said, extra gains appear on the cards with the next hurdle at $110.00 per barrel ahead of the March 24 high at $116.61.