Natural Gas Futures: Further advances appear favoured
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Open interest in natural gas futures markets increased for the fourth consecutive day on Tuesday, this time by nearly 21K contracts, the largest single day build since February 1. In the same line, volume went up by around 146.7K contracts, reversing at the same time three consecutive daily pullbacks.
Prices of natural gas printed decent gains on Tuesday in tandem with increasing open interest and volume, which exposes a near-term bounce, although always against the backdrop of the current consolidative fashion. So far, the commodity remains stuck within the $2.00-$3.00 MMBtu range fort the time being.
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