Natural Gas Futures: Further losses remain in store
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Open interest in natural gas futures markets increased for the fourth consecutive session on Friday, this time by around 9.7K contracts according to preliminary readings from CME Group. Volume, instead, reversed two daily builds in a row and went down by around 233.2K contracts.
Prices of the natural gas remained well on the defensive on Friday. The move was on the back of rising open interest, which should keep the downtrend well in place for the time being. Against that, the next support of note for the commodity comes at the April 2021 lows near $2.45 per MMBtu.
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