Open interest in natural gas futures markets rose for the fourth consecutive day on Friday, with a preliminary increase of around 9.7K contracts according to CME Group data. On the other hand, volume decreased by around 233.2K contracts, breaking two consecutive days of growth.
Natural gas prices remained weak on Friday, due to the increase in open interest, which suggests that the downward trend will continue for now. The next major support level for the commodity is at the April 2021 low of $2.45 per MMBtu.
Source: FX Street
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