Natural Gas Futures: A deeper correction seems not favoured

In light of flash data from CME Group for natural gas futures markets, open interest dropped for the third straight session on Tuesday, now by around 8.3K contracts. On the other direction, volume advanced for the second consecutive day, this time by around 149.4K contracts.

Natural Gas: Drops seen as short-lived

Prices of Natural Gas clinched new 2021 highs well above the $6.00 mark per MMBtu on Tuesday, before correcting lower and ending the session with marginal gains. The move, however, was accompanied by diminishing open interest, removing strength from further retracement and leave the prospects for the continuation of the rally well in place for the time being.