Natural Gas Futures: Further gains seem likely

Advanced figures from CME Group noted open interest in natural gas futures markets rose by just 167 contracts on Friday after three consecutive daily pullbacks. On the other hand, volume reversed four daily builds and went down by nearly 118K contracts.

Natural Gas now looks to $5.60

Prices of natural gas climbed further on Friday amidst a small uptick in open interest, which suggests the likelihood of further upside in the short-term horizon. That said, the next up barrier of note now comes at the 2022 high at $5.57 per MMBtu (February 2).