Advanced readings for Natural Gas futures markets from CME Group noted open interest extended the erratic performance on Wednesday and shrunk by around 2.6K contracts. Volume, instead, increased by 157.7K contracts, partially fading the previous pullback.
Natural Gas: Further upside not ruled out
Natural Gas prices regained the $2.00 mark and beyond per MMBtu on Wednesday, advancing more than 15% on the back of prospects for higher demand coupled with disruption fears following the Tropical Storm Beta. That said, extra gains remains on the cards although shrinking open interest could leave the topside somewhat limited in the short-term horizon.
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