Natural Gas Futures: Extra gains seems unlikely

Considering advanced prints from CME Group for natural gas futures markets, open interest went down for the second straight session on Monday, this time by nearly 8K contracts. Volume, on the other hand, rose by around 170.9K contracts, adding to the previous daily build.

Natural Gas: Further consolidation in store near term

Prices of the natural gas started the new trading week in a positive foot. However, the marked uptick was on the back of shrinking open interest and increasing volume, allowing for the continuation of the current range bound theme for the time being. On the downside, the next target remains at the 2023 low near $1.97 per MMBtu (February 22).