Natural Gas Futures: Further losses not ruled out

Considering advanced prints from CME Group for natural gas futures markets, open interest reversed the previous daily drop and increased by around 4.8K contracts on Friday. On the other hand, volume dropped for the second consecutive session, this time by around 17.1K contracts.

Natural Gas looks supported near $2.50

Friday’s daily drop in prices of natural gas was on the back of rising open interest, which is indicative that further losses could be in store in the very near term. In the meantime, bearish moves are expected to meet contention around the so far monthly lows near $2.50 per MMBtu.