Natural Gas Futures: Further consolidation appears likely

Considering advanced figures from CME Group for natural gas futures markets, open interest resumed the uptrend and increased by around 7.5K contracts. On the other hand, volume retreated for the second session in a row, this time by around 280.8K contracts.

Natural Gas remains propped up by $4.00

Friday’s inconclusive price action in natural gas was amidst rising open interest and declining volume, leaving the door open to further range bound in the very near term at least. That said, the $4.00 mark per MMBtu is still seen as a decent contention area for the time being.