Considering advanced prints from CME Group for natural gas futures markets, open interest shrank for the second session in a row on Friday, now by nearly 5K contracts. Volume, instead, reversed the previous daily pullback and went up by around 50.4K contracts.
Friday’s downtick in prices of natural gas edged lower at the end of last week and broke below the key $8.00 mark amidst declining open interest. Against that, the continuation of the downtrend appears unlikely for the time being, while the commodity faces decent support in the $7.50 region per MMBtu.
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