Crude Oil Futures: Still scope for extra advances

Open interest in crude oil futures markets resumed the uptrend and increased by around 42.5K contracts on Tuesday according to preliminary readings from CME Group. In the same direction, volume went up for the third session in a row, this time by around 215.3K contracts.

WTI: A move to $90.00 looms closer

WTI prices extended its strong rally on Tuesday and flirted with the $89.00 level per barrel amidst increasing open interest and volume. That said, a test of the key $90.00 mark is expected sooner rather than later ahead of the psychological $100.00 barrier.