Natural Gas Futures: Extra gains appear limited

CME Group’s advanced prints for Natural Gas futures noted open interest shrunk for the second session in a row on Wednesday, now by nearly 21K contracts. On the other hand, volume reversed the previous drop and rose by around 198.1K contracts.

Natural Gas remains capped by $2.80/MMBtu

Wednesday’s positive performance of Natural Gas was amidst diminishing open interest, adding to the idea that further upside could lack of strength. In this regard, the 2020 highs around $2.80/MMBtu still emerges as the next target of relevance.