Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the second consecutive session on Friday, this time by around 1.2K contracts. On the opposite direction, volume retreated for the second day in a row, now by more than 36K contracts.
Natural Gas: A test of $3.00 looms closer
Prices of natural gas retreated further at the end of last week. The daily retracement was on the back of increasing open interest and supports the idea that a deeper pullback lies ahead for the time being. On this, the commodity faces the next contention of note at the $3.00 mark per MMBtu, an area last traded back in late May 2021.
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