Natural Gas Futures: Room for extra decline

Open interest in natural gas futures markets increased for the fourth straight session on Wednesday, now by more than 7K contracts according to preliminary prints from CME Group. In the same line, volume extended the choppy performance and rose by around 97.3K contracts.

Natural Gas could re-test the $3.50 zone

Prices of natural gas extended the pessimism on Wednesday amidst rising open interest and volume. Against this, further retracements remain on the cards with the next target of note around the $3.50 mark per MMBtu.