Crude Oil Futures: Room for extra upside

Traders added around 5.1K contracts to their open interest positions in crude oil futures markets on Friday, reaching the third consecutive daily build in light of preliminary readings from CME Group. Volume, instead, shrank for the second session in a row, this time by nearly 3.7K contracts.

WTI still targets the $70.00 mark

Prices of the WTI closed last week on a positive note amidst rising open interest, which is indicative that further upside still remains on the cards, at least in the very near term. On the upside, the $70.00 mark still emerges as the next target of note.