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| Natural Gas Futures Consolidate as Upside Remains Capped |
According to advanced prints from the CME Group for natural gas futures markets, open interest rose by approximately 6.2K contracts on Thursday following two consecutive daily pullbacks. However, volume remained choppy, decreasing by around 54.8K contracts. The natural gas market has been consolidating, with occasional bullish attempts still limited by the $3.00 mark per MMBtu.
Thursday's small uptick in natural gas prices was amidst rising open interest and a moderate retracement in volume. Despite this, the continuation of the consolidative phase is expected to remain unchanged for the time being. With the upside capped by the $3.00 mark per MMBtu, natural gas futures are likely to remain in a holding pattern until there is a significant breakout. Investors should continue to monitor natural gas prices and be prepared for potential opportunities or risks associated with this consolidative trend.
