Prices of natural gas extended the weekly leg lower on Wednesday amidst rising open interest. Against that, the likelihood of further decline remains on the cards and always with the immediate target at the $2.00 mark per MMBtu.
Open interest in natural gas futures markets extended the uptrend for yet another session on Wednesday, this time increasing by around 10.7K contracts according to preliminary readings from CME Group. On the other hand, volume kept the choppiness in place and went down by nearly 16K contracts.
Natural Gas moves closer to $2.00
Prices of natural gas extended the weekly leg lower on Wednesday amidst rising open interest. Against that, the likelihood of further decline remains on the cards and always with the immediate target at the $2.00 mark per MMBtu.
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