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Natural Gas Futures: Near-term rebound in the pipeline
Considering advanced figures for natural gas futures markets, traders scaled back their open interest positions for the second session in a row on Thursday, this time by around 5.7K contracts. On the other hand, volume added to Wednesday’s build and rose by around 36.5J contracts.
Natural Gas: A drop to $3.60 is not ruled out
Thursday’s moderate pullback in prices of natural gas was in tandem with shrinking open interest, leaving the prospects for further downside somewhat diminished for the time being. The commodity, in the meantime, is expected to meet quite decent contention in the $3.60 area per MMBtu, or December 2021 lows.
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