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CME Group’s flash data for natural gas futures markets noted traders added around 4.5K contracts to their open interest positions on Thursday, reaching the second consecutive daily build. Volume, on the other hand, dropped for the third session in a row, now by around 8.1K contracts.
Prices of natural gas accelerated the decline on Thursday amidst rising open interest, which leaves the door open to the continuation of this trend for the time being. A test of the key $2.00 mark per MMBtu seems more an issue of‘when’ rather than ‘if’.
