Crude Oil Futures: Door open to extra gains

CME Group’s flash readings for crude oil futures markets noted open interest rose sharply by around 23.4K contracts on Tuesday, reaching the third build in a row. Volume followed suit and clinched the largest single day build since November 24, rising by around 335.3K contracts.

WTI now looks to $60.00

Prices of the WTI rose for the third straight session on Tuesday, clinching levels seen a year ago past the $55.00 mark per barrel. The uptick was accompanied by rising open interest and volume, indicating that further upside remains in the pipeline and with the key $60.00 mark emerging as the next resistance of note.