Natural Gas Futures: No respite to the decline so far
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In light of advanced prints from CME Group for natural gas futures, open interest extended the uptrend in place since January 24 and rose by around 10.5K contracts on Friday. Volume, on the other hand, shrank for the second session in a row, now by around 23.7K contracts.
Friday’s session saw another negative performance of natural gas prices. The decline, once again, was amidst an uptick in open interest and keeps favouring further weakness in the very near term. Against that, the next key level of note is expected at the $2.00 mark per MMBtu.
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