Crude Oil Futures: Room for extra upside

Open interest in crude oil futures markets increased for the third session in a row on Tuesday, this time by nearly 30K contracts according to preliminary readings from CME Group. Volume, instead, dropped by around 18.2K contracts, partially reversing the previous daily build.

WTI remains focused on $80.00

WTI prices extended their upside against the backdrop of rising open interest on Tuesday. That said, there still seems to be chances for the commodity to reach the key $80.00 mark per barrel in the short-term horizon.