Open interest in natural gas futures markets resumed the uptrend on Thursday, this time by nearly 9K contracts following the previous daily drop according to preliminary readings from CME Group. In the same direction, volume reversed two daily declines in a row and went up by around 123.7K contracts.
Natural Gas: There is a strong contention around $3.000
Thursday’s pullback in prices of natural gas came in tandem with increasing open interest and volume, suggesting that the continuation of the downward trend appears the most likely scenario in the very near term. Against that, the $3.000 mark per MMBtu remains a tough contention zone for the time being.
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