Crude Oil Futures: Outlook remains cautiously positive

CME Group’s preliminary readings for crude oil futures markets noted open interest rose for the second session in a row on Wednesday, this time by around 8.2K contracts. Volume, instead, resumed the downside and shrunk by around 195.4K contracts.

WTI still looks to $44.00

Prices of the barrel of the West Texas Intermediate charted an inconclusive session on Wednesday, closing the day with marginal gains and amidst rising open interest. That said, further gains should not be ruled out, always with the immediate target at the $44.00 mark per barrel.