Natural Gas Futures: Consolidation likely near-term

Open interest in Natural Gas futures markets rose by just 621 contracts at the beginning of the week, reversing four drops in a row in light of advanced prints from CME Group. Volume, on the other hand, went down by around 49K contracts, extending the erratic performance for yet another session.

Natural Gas stays capped by $3.00/MMBtu

Prices of Natural Gas clinched fresh 2020 highs around $2.95 per MMBtu on Monday amidst an inconclusive price action and rising open interest. That said, and while still capped by the critical $3.00/MMBtu, Natural Gas prices could face some consolidation in the very near-term horizon.