Natural Gas Futures: Rebound in the offing?

Preliminary readings from CME Group for natural gas futures markets noted investors trimmed their open interest positions by around 1.4K contracts on Tuesday, partially reversing the previous day’s build. Volume followed suit and dropped by around 57.5K contracts after two daily builds in a row.

Natural Gas looks propped up around $9.00

Prices of natural gas faded part of the upside seen at the beginning of the week on Tuesday. The daily pullback, however, was on the back of shrinking open interest and volume and opens the door to a potential rebound in the very near term. The commodity, in the meantime, remains underpinned by the $9.00 mark per MMBtu.