CME Group’s flash prints for natural gas futures markets noted open interest shrunk for the fifth consecutive session on Wednesday, this time by nearly 1.9K contracts. Volume followed suit and dropped by around 123.7K contracts after three builds in a row.
Natural Gas still looks to $3.00
Natural Gas prices briefly surpassed the $2.80 level on Wednesday although it closed the session with marginal losses and against the backdrop of diminishing open interest and volume. That said, further gains look likely in the short-term horizon and always with the immediate target at the key $3.00 mark per MMBtu.