Crude Oil Futures: Room for extra gains

Open interest in crude oil futures markets rose for the fourth session in a row on Monday, this time by around 4.3K contracts, according to preliminary readings from CME Group. On the other hand, volume went down for the third straight session, now by around 260.5K contracts.

WTI: Next on the upside appears $80.00

Prices of the WTI reversed two daily pullbacks in a row and started the week on the positive foot. The daily uptick was midst rising open interest and allows for the continuation of the recovery in the very near term. Against that, the next target of note emerges at the key $80.00 mark per barrel.