Natural Gas Futures: Further consolidation looks likely

According to advanced prints from CME Group for natural gas futures markets, open interest increased for the second session in a row on Thursday, now by almost 5K contracts. Volume, on the other hand, dropped for the second straight day, now by around 115.5K contracts.

Natural Gas stays capped by $6.500 so far

Prices of natural gas charted a doji-like session on Thursday amidst rising open interest. That said, extra range bound should not be ruled out in the very near term, while the upside remains limited by the 2021 high around the $6.50 mark per MMBtu (October 6).