Crude Oil Futures: Further rebound likely

Considering preliminary readings from CME Group for crude oil futures markets, traders added around 14.3K contracts to their open interest positions, reaching the third daily increase in a row. Volume followed suit and rose by around 285.5K contracts.

WTI now targets $80.00

Prices of the barrel of WTI edged higher on Tuesday amidst rising open interest and volume. Against that, the continuation of the uptrend appears likely in the very near term and with the immediate target at the key $80.00 mark per barrel.