Preliminary readings from CME Group for the natural gas futures markets showed investors trimmed their open positions by about 1.4k contracts on Tuesday, partially reversing the previous day’s build-up. Volume followed suit, dropping about 57.5k contracts after two daily builds in a row.
Natural gas appears to be supported around $9.00
Prices from natural gas faded part of the uptrend seen on Tuesday earlier in the week. However, the daily pullback was due to shrinking open interest and volume and opens the door for a potential recovery in the very near future. The commodity, meanwhile, remains supported by the $9.00 per MMBtu level.
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