Open interest in crude oil futures markets went up for the second session in a row on Friday, this time by more than 24K contracts. Volume followed suit and increased for the third consecutive day, now by around 70.1K contracts.
WTI: Immediate up-barrier comes near $85.00
Prices of WTI added to the previous daily gain on Friday amidst increasing open interest and volume, which indicates that extra gains appears likely in the very near term. Against that, the commodity keeps the initial target at the 2023 peak of $84.85 per barrel (August 10).
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