Natural Gas Futures: Green light for extra rebound
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CME Group’s flash data for natural gas futures markets noted open interest resumed the uptrend and rose by around 3.3K contracts on Wednesday. Volume followed suit and went up sharply, this time by around 102.3K contracts.
Prices of the natural gas extended the recovery and rose markedly beyond the $9.00 mark on Wednesday. The move was also against the backdrop of increasing open interest and volume, exposing the continuation of the current bounce in the very near term and with next hurdle of note at the 2022 high just above the $10.00 mark per MMBtu (August 23).
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