Natural Gas Futures: Downside appears contained
According to advanced figures from CME Group for natural gas futures markets, open interest shrank for the second session in a row on Thursday, this time by around 4.6K contracts. On the other hand, volume rose for the second straight day, now by more than 49K contracts.
Natural Gas faces extra gains above $8.50
Prices of natural gas reverse part of the recent uptrend on Thursday amidst shrinking open interest, which should leave further losses somewhat limited for the time being. The resumption of the upside could see gains accelerated on a break above the $8.50 mark per MMBtu.