Open interest in natural gas futures markets rose for a third consecutive day Wednesday, up no more than 19,000 contracts, according to preliminary readings from CME Group. On the other hand, volume shrank by around 27.5k contracts after two consecutive daily builds.
Natural Gas continues to target the sub-$2.00 region
Prices from natural gas attempted a slight jump on Wednesday. Accompanying the tepid uptrend was rising open interest and falling volume, which should suggest some consolidation is forming in the very near future. Meanwhile, the 2023 low is in the sub-$2.00 per MMBtu range.
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