CME Group’s advanced prints for Natural Gas futures markets saw open interest shrinking by around 6.3K contracts at the beginning of the week after two builds in a row. In addition, volume extended the erratic performance and went down by around 288.3K contracts.
Natural Gas met resistance around $2.40/MMBtu
Prices of Natural Gas corrected lower after recording fresh peaks near the $2.40 level per MMBtu at the beginning of the week. That said, a deeper pullback looks unlikely against the backdrop of diminishing open interest and volume. The near-term target remains at the 2020 tops around $2.50/MMBtu.
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