CME Group’s flash data for crude oil futures markets noted traders added around 1.5K contracts to their open interest positions on Thursday, setting aside five consecutive daily pullbacks. Volume followed suit and increased for the third straight session, now by more than 51K contracts.

WTI: Immediately to the upside emerges $95.00

Prices of WTI extended further the weekly recovery and approached the key $90.00 hurdle on Thursday. The daily uptick was accompanied by increasing open interest and volume and exposes the continuation of the advance in the very near term and with immediate barrier at the 2023 peak just below the $95.00 mark per barrel.