Natural Gas Futures: Further pullbacks on the cards

CME Group’s flash data for natural gas futures markets noted open interest increased for the second session in a row on Tuesday, this time by around 16.3K contracts. In the same line, volume remained choppy and went up by around 69.5K contracts.

Natural Gas faces a potential test of $2.00

Tuesday’s decline in prices of the natural gas was on the back of increasing open interest and volume and is indicative of further losses in the very near term. Against that, a probable revisit to the monthly low around the $2.00 mark per MMBtu (May 5) should not be ruled out for the time being.