Preliminary data from the CME Group for the Natural Gas futures markets indicates that traders reduced their open interest positions by about 2,600 contracts on Friday, simultaneously reversing four consecutive daily gains. In the same direction, volume maintained the contraction and fell by around 161,800 contracts after the previous daily advance.
Natural Gas remains supported around $2.00
Natural Gas prices posted an erratic session on Friday amid contracting open interest and volume. That being said, the price action around the commodity remains unclear and supports range-limited movement continuation for now. Meanwhile, support appears around the $2.00 level by MMBtu.
Source: Fx Street
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