Crude Oil Futures: Further rangebound on the cards

CME Group’s preliminary figures for Crude Oil futures markets noted traders increased their open interest positions for the third straight session on Tuesday, this time by around 3.1K contracts. In the same line, volume extended the choppy activity and rose by around 222.3K contracts.

WTI faces some consolidation near-term

WTI treads water in the upper end of the recent range around the $66.00 mark amidst rising open interest and volume. That said, extra rangebound looks likely for the time being, with the next target on the upside at the 2021 highs near the $68.00 mark per barrel (March 8).