Natural Gas Futures: Further decline on the cards

In light of advanced prints for natural gas futures markets from CME Group, open interest rose by around 3.1K contracts on Monday following two pullbacks in a row. In the same line, volume reversed three daily drops and went up by nearly 3.7K contracts.

Natural Gas capped around $3.30/MMBtu

Prices of natural gas kept losing ground Monday. The downtick was amidst rising open interest and volume, allowing for the continuation of the leg lower in the very near-term at least. Against this, there is initial support in the $2.70 region per MMBtu.