Open interest in the natural gas futures markets saw traders trim open interest positions for the fourth straight session on Wednesday, now by about 22.6k contracts. Volume instead resumed the uptrend, rising nearly 48,000 contracts.
Natural gas remains well supported around $2.00
Wednesday daily retracement in prices from natural gas was accompanied by rising open interest, which saps the power of another retracement in the very short term. Meanwhile, the 2023 low near $1.97 per MMBtu continues to prove a solid bone of contention for now.
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