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Natural Gas Futures: Recovery could run out of steam
In light of advanced figures from CME Group for natural gas futures markets, open interest shrank for yet another session on Tuesday, now by more than 8K contracts, while volume rose for the second straight session, this time by around 29.7K contracts.
Natural Gas faces the next hurdle at $2.50
Prices of the natural gas appears to have embarked on a marked rebound. Tuesday’s uptick, however, came on the back of diminishing open interest, which is indicative that the continuation of the recovery could face some headwinds in the very near term. The next hurdle of note now emerges at the $2.50 region per MMBtu.
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