Natural Gas Futures: Downside seen short-lived

Traders scaled back their open interest positions by around 17.5K contracts on Tuesday, the largest single-day drop so far this year, all in light of preliminary readings from CME Group. On the flip side, volume increased for the second consecutive session, this time by almost 7K contracts.

Natural gas stays capped around $4.20… for now

Prices of natural gas closed with losses on Wednesday for the first time after seven sessions in a row. The downtick came in tandem with shrinking open interest, hinting at the view that a sustained decline is not favoured in the very near term.