Natural Gas Futures: Further correction not ruled out

Considering advanced prints from CME Group for natural gas futures markets, open interest resumed the uptrend and rose by around 6.6K contracts at the beginning of the week. On the other hand, volume reversed the previous daily build and dropped by around 123.2K contracts.

Natural Gas: Next hurdle emerges at $3.00

Prices of natural gas retreated modestly on Monday on the back of increasing open interest. That said, further retracements appear on the cards in the very near term, while the resumption of the uptrend is expected to meet a tough barrier at the March top around the $3.00 mark per MMBtu (March 3).