Crude Oil Futures: Some consolidation should not be ruled out

Considering preliminary readings from CME Group, traders added around 21.2K contracts to their open interest positions on Wednesday. Volume, instead, went down for the second session in a row, this time by 140.5K contracts.

WTI faces initial support around $95.30

Crude oil prices charted an inconclusive session on Wednesday. The price action was accompanied by rising open interest, which could be indicative that the commodity might face some consolidative mood in the very near term. Immediately to the downside, WTI should find support arouund recent lows in the $95.30 region (April 25).