Considering preliminary readings from CME Group for crude oil futures markets, traders increased their open interest positions for the fourth consecutive session on Tuesday, this time by around 20.3K contracts. Volume followed suit and went up by around 481.3K contracts, the largest single-day build since March 31.

WTI risks a drop to $105.00

Following new peaks around $120.00 per barrel, prices of the WTI ended Tuesday’s session with moderate losses amidst rising open interest and volume, paving the way for further correction in the very near term. Against that, the next support of note for crude oil emerges at the $105.00 region (May 19 low).