Natural Gas Futures: Extra advances look out of favour
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Open interest in natural gas futures markets dropped for the third straight session on Tuesday, now by around 14.7K contracts. In addition, volume reversed two daily builds in a row and shrank by around 23.7K contracts.
Prices of the natural gas extended the weekly rebound on Tuesday. The uptick, however, was on the back of declining open interest and volume and suggests the a more serious recovery appears not favoured for the time being, leaving the current consolidation range well unchanged.
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