Natural Gas Futures: Further downside loses traction

In light of advanced prints from CME Group for natural gas futures markets, open interest extended the decline for yet another session on Tuesday, this time by just 630 contracts. On the other hand, volume kept the erratic performance and increased by around 44.7K contracts.

Natural Gas appears supported near $2.50

Tuesday’s decline in prices of natural gas was in tandem with shrinking open interest, which removes strength from prospects for further decline in the very near term at least. So far, the $2.50 region per MMBtu keeps holding the downside for the time being.