Natural Gas Futures: Look inconclusive near term

Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the second straight session on Monday, this time by around 6.2K contracts. Volume followed sit and went up for the second day in a row, now by around 144.3K contracts.

Natural Gas looks capped around $7.20

Prices of natural gas gapped higher and revisited the area beyond the $7.00 mark at the beginning of the week, just to fade most of that advance and end the session with marginal gains afterwards. The move was amidst rising open interest and volume and points to some consolidation in the very near term with the topside still around the $7.20 region per MMBtu.