Natural Gas Futures: Rebound looks overdue

Open interest in natural gas futures markets shrunk by around 7.4K contracts at the beginning of the week after four consecutive daily builds, all in light of advanced prints from CME Group. Volume, on the opposite direction, partially offset the previous relevant drop and increased by around 254.7K contracts.

Natural Gas looks contained near $2.40/MMBtu

Prices of the natural gas dropped to fresh lows near the $2.40 mark per MMBtu on Monday. The negative performance was against the backdrop of shrinking open interest, opening the door to a rebound in the very near-term.