Crude Oil Futures: Jump in prices reinvigorates the uptrend

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Crude Oil Futures: Jump in prices reinvigorates the uptrend Oil Commodities Energy OpenInterest Futures

s from CME Group. Volume followed suit and rose sharply by around 812K contracts, the largest single-day build so far this year.leapt past the $81.00 mark per barrel on Monday in response to the decision by the OPEC+ to reduce the oil output. The strong bounce was on the back of increasing open interest and volume and leaves the door open to further upside in the very near term. Against that, the next target on the upside now emerges at the 2023 high at $82.60 .

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