Further recovery appears under pressure while the commodity appears so far well underpinned around the $2.50 region per MMBtu.
CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions for the third session in a row on Thursday, now by around 3.7K contracts. In the same line, volume dropped for the second straight session, this time by around 82.3K contracts.
Natural Gas: Support remains around $2.50
Prices of natural gas rebounded mildly on Thursday amidst dwindling open interest and volume. That said, further recovery appears under pressure while the commodity appears so far well underpinned around the $2.50 region per MMBtu.
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