Considering preliminary readings from CME Group for crude oil futures markets, investors trimmed their open interest positions by more than 14K contracts on Thursday after three daily builds in a row. Volume followed suit and dropped by around 4.1K contracts.

WTI approaches the $95.00 region

Prices of the WTI extended the leg lower on Thursday amidst shrinking open interest and volume, indicative that a deeper drop appears not favoured at least in the very near term. In the meantime, the next support of relevance emerges at the March low at $93.51 (March 15).