CME Group’s flash data for natural gas futures markets noted traders reduced their open interest positions by around 12.2K contracts at the beginning of the week following three consecutive daily builds. In the same line, volume went down for the second straight session, now by more than 83K contracts.

Natural Gas: Extra consolidation seems on the cards

Natural gas prices dropped for the fourth session in a row on Monday. The continuation of the decline was in tandem with diminishing open interest and volume and hints at the idea that a rebound might be in the offing in the very near term. Looking at the broader scenario, the consolidative theme is expected to prevail for the time being.