Considering advanced figures from CME Group for natural gas futures markets, open interest dropped for the fourth consecutive session on Thursday, now by around 11.3K contracts. Volume followed suit and resumed the downtrend, now declining by around 82.3K contracts.
Natural Gas: Further consolidation in store
Thursday’s small uptick in prices of natural gas was accompanied by further decline in open interest and volume, leaving the prospects for extra gains curtailed for the time being. So far, the commodity is expected to maintain the current consolidation theme well in place in the short-term horizon.
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