CME Group’s flash data for natural gas futures markets noted traders added nearly 18K contracts to their open interest positions on Tuesday. In the same line, volume reversed two consecutive daily declines and increased by around 64.2K contracts.
Natural Gas could revisit the $2.50 region near term
Prices of natural gas dropped for the second session in a row on Tuesday. The daily downtick was amidst increasing open interest and volume and leaves the commodity vulnerable to further losses in the very near term. That said, the next contention emerges at the lower end of the ongoing range bound theme around the $2.50 zone per MMBtu.
Source: https://www.fxstreet.com/news/natural-gas-futures-further-weakness-remains-in-store-202308020659