Natural Gas Futures: Door open to further decline
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Considering advanced results from CME Group for natural gas futures markets, open interest climbed for the fourth session in a row on Tuesday, now by around 15.1K contracts. Volume, in the same direction, reversed two straight daily drops and increased by around 191.3K contracts.
Tuesday’s retracement in prices of the natural gas was accompanied by rising open interest and volume and is supportive of a deeper pullback in the very near term at least. Against that, the commodity could revisit the December 2021 low at $3.53 per MMBtu (December 30)
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