Considering advanced prints from CME Group for natural gas futures markets, open interest rose by around 22.3K contracts after three consecutive daily
drops on Tuesday. In the same direction, volume remained choppy and rose by around 90.5K contracts following the previous daily drop.prices extended the weekly leg lower on Tuesday. The daily pullback was in tandem with increasing open interest and volume and seems to favour further retracements in the very near term. That said, there is an interim contention around the 100-day SMA near $2.50 ahead of the August low near the $2.40 mark per MMBtu.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Natural Gas price slides in tight supply marketNatural Gas falls slightly in European trading hours as US markets are closed for Labor Day. Substantial declines aren’t expected as European gas supp
Read more »
Natural Gas Price Analysis: 50-SMA prods XNG/USD bears near $2.80, downside appears more impulsiveNatural Gas Price (XNG/USD) recovers to $2.81 after falling the most in three weeks the previous day, mildly bid amid early Tuesday. In doing so, the
Read more »
Exclusive: Shell, Trinidad weigh Venezuela's natural gas investment demandsShell and Trinidad and Tobago's National Gas Company (NGC) are close to agreeing to credit Venezuela's state-run oil firm for its $1 billion investment in a gas field the three want to jointly develop, four people close to the discussions said.
Read more »
Dominion Sells Natural Gas Utilities to Enbridge for $9.4 BillionThe sale comes as lawmakers and regulators across the U.S. debate the future of natural-gas use in everything from stoves to furnaces.
Read more »
Natural Gas Price Analysis: XNG/USD rebound seeks acceptance from key moving averages near $2.80Natural Gas Price (XNG/USD) prints mild gains around $2.78 while struggling to keep the corrective bounce off the weekly low amid early Wednesday. In
Read more »
Turkish, Israeli ministers rekindle energy dialogueThe ministers explored opportunities for bilateral and regional energy cooperation, with a focus on natural gas.
Read more »