Natural Gas Futures: A deeper retracement seems on the table

Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the second straight day on Thursday, now by just 187 contracts. In the same line, volume advanced for the fourth consecutive day, this time by around 31.1K contracts.

Natural Gas: Initial support remains at $2.50

Prices of natural gas extended the weekly corrective decline on Thursday. The negative price action was on the back of increasing open interest and volume and this is indicative that further losses appear in the pipeline in the very near term. So far, the $2.50 region per MMBtu still emerges as an initial decent contention for the commodity.