Open interest in natural gas futures markets shrank by around 2.1K contracts on Monday after two daily builds in a row, according to preliminary readings from CME Group. Volume, instead, rose by around 121.3K contracts and reversed two consecutive daily pullbacks.

Natural Gas: Immediately to the downside comes $3.00

Natural gas prices advanced marginally on Monday amidst a broader lack of direction and diminishing open interest. That said, further recovery appears not favoured in the very near term at least and shifts the focus to the key $3.00 mark per MMBtu.