Natural Gas Futures: Extra gains likely
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Considering advanced prints from CME Group for natural gas futures markets, open interest prolonged the uptrend for yet another session on Wednesday, this time by around 8.1K contracts. In the same direction, volume went up by around 44.7K contracts, setting aside the previous daily drop.
Prices of the natural gas bounced of the $3.50 region and ended Wednesday’s session with decent gains. The bounce was in tandem with increasing open interest and volume and thus paves the way for the continuation, at least in the very near term, of the recovery and with the initial hurdle at the $4.00 mark per MMBtu.
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