Natural Gas Futures: Near-term decline on the table
|Considering advanced figures from CME Group for natural gas futures markets, open interest remained choppy and shrank by more than 9K contracts on Wednesday. In the same line, volume reversed two consecutive daily builds and dropped by nearly 90K contracts.
Natural Gas: Further consolidation remains the name of the game
Prices of natural gas rose for the third session in a row on Wednesday. The daily uptick came in tandem with shrinking open interest and volume and exposes some corrective move in the very near term. Looking at the broader picture, the commodity is expected to keep the ongoing consolidation well in place for the time being.
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