Natural Gas Futures: Further consolidation in store
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Considering advanced prints from CME Group for natural gas futures, open interest remained choppy on Wednesday and rose by around 6.2K contracts. Volume, instead, dropped for the second session in a row, this time by around 59.1K contracts.
Wednesday’s downtick in prices of the natural gas was amidst rinsing open interest, which supports the view that extra losses remain on the cards for the time being. So far, the commodity is expected to maintain the current range bound theme around the $2.50 region per MMBtu.
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