CME Group’s flash data for natural gas futures markets noted traders added just 469 contracts to their open interest positions on Wednesday, reaching the second consecutive daily build. In the same direction, volume went up by around 82.2K contracts, partially reversing the previous strong pullback.

Natural Gas keeps the range bound theme intact

Wednesday saw a modest decline in prices of natural gas amidst increasing open interest and volume. Against that, the continuation of the corrective decline appears on the cards in the very near term, always amidst the broad consolidation phase in place since March.