Natural Gas Futures: Extra gains remain in the pipeline
|In light of flash data from CME Group for natural gas futures markets, open interest rose by more than 15K contracts after five daily pullbacks in a row on Wednesday. In the same line, volume clinched the largest single day build since June 11, this time by nearly 142K contracts.
Natural Gas stays focused on $3.40
Prices of natural gas recorded new 2021 highs on Wednesday. The move was on the back of increasing open interest and volume, allowing for the continuation of the uptrend in the very near term. Against this, the commodity now targets the 2020 highs around the $3.40 mark per MMBtu.
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