Natural Gas Futures: Extra range bound on the cards

CME Group’s flash data for natural gas futures markets noted open interest increased for the second session in a row on Tuesday, now by around 5.6K contracts. On the other hand, volume shrank for the second consecutive day, this time by nearly 20K contracts.

Natural Gas remains side-lined around $6.50

Tuesday’s decent gains in prices of natural gas were on the back of rising open interest and a noticeable pullback in volume, which could leave the current consolidative theme well in place for the time being, always around the $6.50 region per MMBtu.