Natural Gas Futures: Some respite in the offing?
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Considering advanced prints from CME Group for natural gas futures markets, open interest rose by around 15.6K contracts at the beginning of the week. On the other hand, volume extended the decline for the third straight session, this time by around 24.8K contracts.
Prices of the natural gas started the week in a positive fashion amidst rising open interest. Against that, and coupled with still oversold conditions, the commodity could extend further the current rebound. On the downside, the $2.50 region per MMBtu remains quite a decent support for the time being.
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