Crude Oil Futures: Neutral/bullish near term

CME Group’s flash data for crude oil futures markets noted open interest went up for the second session in a row on Wednesday, now by around 24.3K contracts. In the same line, volume reversed two consecutive daily pullbacks and increased by around 152.8K contracts.

WTI: Consolidation ahead of further gains

Prices of the WTI charted an inconclusive session on Wednesday and closed the day with marginal gains. Rising open interest and volume allows for some consolidative mood ahead of the probable continuation of the rally. Against this, the next resistance lines up at the so far 2021 highs below the $75.00 mark per barrel (June 28).