Natural Gas Futures: Room for further losses

Open interest in natural gas futures markets rose for the second session in a row on Wednesday, now by around 11.8K contracts according to preliminary readings from CME Group. In the same line, volume extended the uptrend and increased by nearly 13K contracts.

Natural Gas remains well supported by $2.00

Prices of natural gas retreated modestly on Wednesday amidst the uptick in open interest and volume. Against that, another decline remains on the cards in the very near term, although a deeper pullback is expected to meet a formidable barrier around the $2.00 mark per MMBtu.