Natural Gas Futures: Further upside on the table

Open interest in natural gas futures markets reversed the previous daily drop and went up by around 22.7K contracts on Tuesday according to preliminary readings from CME Group. In the same line, volume rose for the third consecutive session, now by around 221K contracts.

Natural Gas now targets the 2021 high

Tuesday’s brief test of the $3.20 level in natural gas was in tandem with rising open interest and volume. That said, the rebound from late May lows still appears healthy and could now attempt a visit to the YTD high past the $3.30 level per MMBtu (February 17).