Natural Gas Futures: Extra losses in the pipeline

Open interest in Natural Gas futures markets rose for the second consecutive session on Tuesday, this time by around 1.5K contracts as per advanced figures from CME Group. In the same line, volume extended the uptrend and went up by almost 5K contracts.

Natural Gas could challenge $2.40/MMBtu

Prices of Natural Gas charted a negative session on Tuesday. The move was accompanied by increasing open interest and volume and allows for further decline down the road in the very near-term. The $2.40 mark per MMBtu remains a key support for the time being.