Crude Oil Futures: Extra gains appear likely

In light of preliminary readings from CME Group for crude oil futures markets, traders added around 7.3K contracts to their open interest positions on Wednesday after four daily pullbacks in a row. Volume, instead, shrank for the second consecutive session, this time by around 8.6K contracts.

WTI now looks to monthly tops above $73.00

Prices of the WTI extended the weekly optimism on Wednesday amidst rising open interest, opening the door to the continuation of the uptrend in the very near term. Against this, the next target of note comes at the so far monthly highs past the $73.00 mark per barrel (September 15).