Natural Gas Futures: Extra decline favoured near term
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CME Group’s flash data for natural gas futures markets noted traders increased their open interest positions for the fourth consecutive session on Thursday, this time by around 15.4K contracts. In the same line, volume went up by around 143.5K contracts, fading the previous daily drop.
Prices of natural gas retreated further on Thursday. The daily pullback was in tandem with increasing open interest and volume, exposing the likelihood of further losses in the very near term. Against that, there is a tough contention area around the $2.00 mark per MMBtu for the time being.
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