Natural Gas Futures: Extra range bound on the cards
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CME Group’s flash data for natural gas futures markets noted open interest increased for the second session in a row on Tuesday, now by around 5.6K contracts. On the other hand, volume shrank for the second consecutive day, this time by nearly 20K contracts.
Tuesday’s decent gains in prices of natural gas were on the back of rising open interest and a noticeable pullback in volume, which could leave the current consolidative theme well in place for the time being, always around the $6.50 region per MMBtu.
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