Natural Gas Futures: Extra decline stays on the cards

In light of preliminary figures from CME Group for Natural Gas futures prices, open interest reversed three consecutive daily pullbacks and rose by almost 6K contracts. Volume, instead, partially reversed the previous build and went down by around 62.2K contracts.

Natural Gas could re-test $1,67/MMBtu

Prices of Natural Gas are extending the move lower amidst rising open interest, which is supportive of further retracements and a potential visit to mid-June lows in the $1,67 mark per MMBtu.