Natural Gas Futures: Some consolidation appears on the cards near term
|Open interest in natural gas futures markets increased for the third straight session on Wednesday, no by more than 19K contracts according to preliminary readings from CME Group. On the other hand, volume shrank by around 27.5K contracts after two consecutive daily builds.
Natural Gas keeps targeting the sub-$2.00 region
Prices of the natural gas attempted a mild bounce on Wednesday. The tepid uptick was accompanied by increasing open interest and declining volume, which should point to the emergence of some consolidation in the very near term. In the meantime, the 2023 low in the sub-$2.00 region per MMBtu.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.