Natural Gas Futures: Downside seen limited

In light of flash data for Natural Gas futures markets from CME Group, open interest shrunk for the second consecutive session on Thursday, this time by almost 7.4K contracts. Volume, instead, extended the erratic performance and went up by more than 132K contracts.

Natural Gas prices still targets $2.50/MMBtu

Thursday’s negative price action in Natural Gas was in tandem with diminishing open interest and the continuation of the choppy activity in volume. That said, occasional pullbacks remain contained and the commodity keeps targeting the 2020 peaks in the $2.50 region in the near-term.