Natural Gas Futures: Room for extra upside

Open interest in natural gas futures markets extended the choppy activity and went up by around 5.6K contracts on Monday in light of advanced prints from CME Group. On the other hand, volume shrunk by around 206.4K contracts after two daily builds in a row.

Natural Gas seen revisiting $3.00/MMBtu

Monday’s uptick in prices of natural gas was in tandem with rising open interest, leaving the door open for the continuation of the uptrend in the very near-term and with the immediate target at the key $3.00 per MMBtu.