Natural Gas Futures: Price action remains vacillating

Open interest in natural gas futures markets rose by around 2.7K contracts following two consecutive daily pullbacks at the end of the week, noted advanced prints from CME Group. On the other hand, volume dropped for the thirds straight session, this time by around 41.3K contracts.

Natural Gas remains supported by the $7.50 region

Monday’s indecision in prices of natural gas came on the back of rising open interest, which signals the likeliness of extra side-lined trading in the very near term. Against that, the $7.50 region per MMBtu is still expected to hold the downside for the time being.