10:52:28 08-08-2022
Natural Gas Futures: Extra losses appear unlikely
Considering advanced prints from CME Group for natural gas futures markets, open interest shrank for the second session in a row on Friday, now by nearly 5K contracts. Volume, instead, reversed the previous daily pullback and went up by around 50.4K contracts.
Natural Gas faces support near $7.50
Friday’s downtick in prices of natural gas edged lower at the end of last week and broke below the key $8.00 mark amidst declining open interest. Against that, the continuation of the downtrend appears unlikely for the time being, while the commodity faces decent support in the $7.50 region per MMBtu.
