Natural Gas Futures: Further consolidation appears likely

Advanced prints from CME Group for natural gas futures markets noted open interest rose by just 734 contracts after two straight daily drops on Monday. On the other hand, volume went down by around 1.5K contracts after two daily builds in a row.

Natural Gas faces extra range bound around $6.50

Monday’s downtick in prices of natural gas was on the back of a small increase in open interest and an equally modest drop in volume, all supportive of the continuation of the current side-lined trading around the $6.50 region per MMBtu.