According to flash data from CME Group for natural gas futures markets, open interest shrank for the fourth session in a row on Thursday, this time by nearly 8.5K contracts. Volume dropped as well, now by around 93.8K contracts amidst the erratic performance seen as of late.

Natural Gas appears supported around $3.80

Prices of natural gas retreated further on Thursday and closed below the $4.00 mark per MMBtu for the first time since January 21. The negative price action was accompanied by shrinking open interest and volume, leaving the door open to a probable bounce in the very near term. Against this, the $3.80 region still emerges as a decent contention.