Natural gas prices yielded no clear direction on Friday against the backdrop of dwindling open interest and volume.
Considering advanced prints from CME Group for natural gas futures markets, open interest dropped for the third session in a row on Friday, now by around 1.4K contracts. In the same direction, volume resumed the downtrend and shrank by nearly 90K contracts.
Natural Gas: Interim contention emerges around $2.650
Natural gas prices yielded no clear direction on Friday against the backdrop of dwindling open interest and volume. That said, the commodity could face some near-term consolidation while appearing supported by the provisional 55-day SMA around the $2.650 region per MMBtu.
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