August 30, 2023 11:34 AM

Crude Oil Futures: Extra Profits Favorable Now

Crude Oil Futures: Extra Profits Favorable Now

For the fourth session in a row, traders increased their open interest holdings on Tuesday, this time by almost 8.6K contracts, according to CME Group's flash data for crude oil futures markets. Volume in the same direction resumed its upward trend and increased by about 128.5K contracts.

WTI: Attention is still on the $85.00 top in 2023

The recovery in WTI prices on Tuesday coincided with increased open interest and volume, opening the door to additional increases in the very near future with a target price of $84.85 per barrel (the YTD high, set on August 10).

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