Natural Gas Futures: A near-term bounce seems likely

Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the third session in a row on Thursday, this time by just 603 contracts. Volume, instead, went down by around 15.2K contracts, reversing part of the previous marked build.

Natural Gas faces contention around $2.60

Prices of natural gas dropped for the third session in a row on Thursday. The move was in tandem with a small uptick in open interest and diminishing volume. That said, there are no changes to the broad consolidative phase around the commodity, while prices now appear to face initial contention around the $2.60 mark per MMBtu.