Natural Gas Futures: Door open to extra weakness

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Open interest in natural gas futures markets extended the uptrend and rose by around 5.7K contracts on Wednesday according to preliminary readings from CME Group. On the other hand, volume went down by around 75.6K contracts, partially offsetting the previous sharp daily build.

Thursday’s marked retracement in prices of the natural gas was accompanied by increasing open interest and leaves unchanged the prospects for further decline in the very near term. That said, the next target of note remains at the $2.00 mark per MMBtu.

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