Natural Gas Futures: Rally looks exhausted?

In light of advanced figures from CME Group for natural gas futures markets, open interest dropped for the third session in a row on Thursday, this time by just 541 contracts. Volume, on the other hand, extended the choppy activity and increased by around 127.4K contracts.

Natural Gas faces strong hurdle at $3.80

Thursday’s uptick in natural gas was accompanied by a small drop in open interest, leaving the prospects for further upside somewhat curtailed. Against this, the $3.80 mark per MMBtu continues to cap occasional bullish attempts for the time being.