Considering preliminary readings from CME Group for crude oil futures markets, traders trimmed their open interest positions by nearly 3K contracts following four daily builds in a row at the beginning of the week. In the same line, volume dropped the most since September 15, this time by more than 186K contracts.

WTI: Next on the upside comes $80.00

Prices of the WTI retreated to the vicinity of the $76.00 mark on Monday against the backdrop of shrinking open interest and volume. That said, further decline seems unlikely for the time being and the door now looks open to a probable rebound with the immediate hurdle at the $80.00 mark per barrel.