Natural Gas Futures: Door open to extra gains

Open interest in natural gas futures markets reversed the previous drop and rose by around 19K contracts on Wednesday according to advanced prints from CME Group. In the same line, volume went up for the second consecutive session, this time by 51.7K contracts.

Natural Gas continues to target the 2022 peaks

Prices of the natural gas extended the weekly advance on Wednesday. The uptick was amidst rising open interest and volume and continue to favour further upside in the very near term. Against that, the next hurdle emerges at the YTD high past the $8.00 mark per MMBtu recorded on April 18.