Natural Gas Futures: Outlook tilted to the downside
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Considering advanced prints from CME Group for natural gas futures markets, open interest rose further on Thursday, this time by around 7.7K contracts. On the flip side, volume contracted for the second consecutive session, now by around 33.5K contracts.
Prices of the natural gas extended the weekly leg lower on Thursday. The negative performance was accompanied by rising open interest, which is indicative that extra losses look favoured in the very near term. Against that, another move to the YTD low at $1.967 (February 22) should not be surprising.
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