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Further rebound in the pipeline

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CME Group’s flash data for crude oil futures markets noted open interest extended the uptrend on Monday, this time increasing by nearly 20K contracts. In the same line, volume reversed two daily pullbacks in a row and went up by nearly 210K contracts.

WTI: Next hurdle aligns at the YTD high at $81.44

Prices of the WTI started the week in a positive mood amidst rising open interest and volume. That said, further upside should not be ruled out with the immediate target at the so far January peak at $81.44 per barrel (January 3).

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