According to advanced readings from CME Group for Natural Gas futures markets, open interest extended the uptrend for yet another session on Wednesday, this time rising by around 5.6K contracts. Volume, instead, shrunk by around 12.3K contracts, reversing the previous daily build.
Natural Gas stays capped by $3.00
Natural Gas failed once again to surpass the $3.00 mark on Wednesday, ending the session with decent losses. The negative price action was in tandem with increasing open interest, allowing for some corrective move in the very near-term. As usual in past sessions, the upside still faces strong hurdle at the $3.00 mark per MMBtu.
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