Natural Gas Price: Neutral bias in place

Traders added just 980 contracts to their open interest positions in Natural Gas futures markets according to advanced readings from CME Group. On the other hand, volume went down by nearly 65.5K contracts, resuming the downside following Tuesday’s build.

Natural Gas Prices Forecast

Prices of the MMBtu of the commodity failed at the $2.00 level on Wednesday and closed the session with losses amidst inconclusive trends in both open interest and volume. That said, Natural Gas prices are therefore forecasted to extend the rangebound theme around current levels in the short-term horizon.