Natural Gas Futures: Probable consolidation near term

In light of advanced prints for natural gas futures markets, open interest dropped for the third straight session on Friday, this time by around 3.5K contracts. In the same direction, volume went down by around 94.8K contracts, offsetting the previous build.

Natural Gas faces the next support at $3.15

Natural gas prices charted an inconclusive session on Friday amidst shrinking open interest and volume, leaving the door open to some consolidation in the short-term horizon. Further downside, in the meantime, is expected to meet support around the $3.15 mark per MMBtu.