CME Group’s advanced readings for Natural Gas futures markets showed open interest went down for the third session in a row on Wednesday, this time by nearly 5K contracts. In the same line, volume dropped for the second straight day, now by around 115.2K contracts.
Natural Gas clinched fresh multi-week peaks around $2.26 on Wednesday, although it closed with losses amidst shrinking open interest and volume. That said, occasional retracements are seen as shallow, while the upside target remains at the 2020 highs around $2.50 recorded in early May.