CME Group’s flash data for natural gas futures markets noted open interest increased for the second session in a row on Monday, this time by around 1.3K contracts. Volume, instead, shrank for the second consecutive session, now by around 132.7K contracts, the largest single-day drop since August 12.

Natural Gas now looks supported around $6.50

Monday’s drop and rebound from the $6.50 region was on the back of rising open interest, which reinforces the continuation of the bullish move in prices of natural gas in the very near term. In the meantime, decent contention seems to have now emerged around $6.50.