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Natural Gas Futures: Potential extra losses in the near term
Considering advanced figures from CME Group for natural gas futures markets, open interest rose by nearly 2K contracts after two consecutive daily pullbacks on Wednesday. Volume followed suit and went up for the third straight session, now by around 51.5K contracts.
Natural Gas remains consolidative for the time being
Prices of natural gas reversed two daily advances in a row on Wednesday. The uptick was amidst increasing open interest and volume and suggests a potential decline in the very near term. So far, there are no changes to the range bound theme in the commodity.
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