Crude oil prices rebound 1.5% but trade below $60 per barrel: Where is it headed in near term?

Brent crude futures gained 87 cents, or 1.5%, to trade at $59.79 per barrel by 0730 GMT, while U.S. West Texas Intermediate crude advanced 85 cents, also up 1.5%, to $56.12 per barrel. However, crude oil prices remain below $60 per barrel.