Natural Gas Futures: Shrinking bets for extra rebound
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Open interest in natural gas futures markets shrank by around 2.1K contracts on Monday after two daily builds in a row, according to preliminary readings from CME Group. Volume, instead, rose by around 121.3K contracts and reversed two consecutive daily pullbacks.
Natural gas prices advanced marginally on Monday amidst a broader lack of direction and diminishing open interest. That said, further recovery appears not favoured in the very near term at least and shifts the focus to the key $3.00 mark per MMBtu.
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