Natural Gas Futures: Extra weakness in the pipeline

Considering advanced prints from CME Group for natural gas futures markets, open interest increased by just 545 contracts on Friday after three consecutive daily pullbacks. Volume followed suit and went up by nearly 50K contracts following two straight daily declines.

Natural Gas remains supported near $2.50

Friday’s downtick in prices of natural gas was accompanied by increasing open interest and volume, exposing the likelihood of further retracement in the very near term. That said, the commodity’s downside still faces decent contention around the $2.50 region per MMBtu.