Crude Oil Futures: Probable correction on the cards

CME Group’s preliminary figures for crude oil futures markets noted open interest increased for the second session in a row, this time by around 11.1K contracts. In the same line, volume went up for the second straight session, now by around 201.5K contracts.

WTI: Outlook remains positive

Wednesday’s corrective pullback dragged prices of the WTI from new 2021 highs just below the $73.00 mark. The move was on the back of rising open interest and volume, exposing further weakness in the very near term ahead of the continuation of the rally.