Considering preliminary readings from CME Group for natural gas futures markets, traders trimmed their open interest positions by more than 2K contracts after two daily builds in a row on Tuesday. On the other hand, volume went up for the second consecutive day, now by around 7.7K contracts.

Natural Gas appears supported near $7.50

Prices of natural gas dropped markedly on Tuesday, although the move was on the back of declining open interest, hinting at the idea that a deeper retracement looks unlikely for the time being. So far, the $7.50 mark per MMBtu seems to hold the downside.