Natural Gas Futures: No changes to the consolidation theme
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CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions by around 2.6K contracts on Friday, reversing at the same time four consecutive daily builds. In the same direction, volume kept the choppiness well and sound and shrank by around 161.8K contracts following the previous daily advance.
Prices of natural gas charted an inconclusive session on Friday amidst shrinking open interest and volume. That said, price action around the commodity remains unclear and supportive of further range bound for the time being. Support, in the meantime, appears around the $2.00 mark per MMBtu.
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