WTI Crude Oil futures decline near $89 to start the week.

Todd Colvin breaks down the latest moves in WTI Crude Oil futures as prices decline to start the week, testing four-week lows near $89 a barrel. Easing supply concerns and ongoing Middle East peace talks are helping pressure crude prices. Colvin notes that implied volatility has pulled back alongside the price drop, as reflected in the CVOL index. Additionally, recent positioning data shows speculators scaling back their net long exposure, reducing overall positioning to its lowest level in nearly two months.