Natural Gas Futures: Further strength on the cards
|Open interest in Natural Gas futures markets rose by around 12.8K contracts on Wednesday in light of advanced figures from CME Group, clinching the second build in a row. Volume, in the same line, increased for the second consecutive day, this time by around 75.2K contracts.
Natural Gas prices now targets $2,00/MMBtu
Prices of Natural Gas are extending the rebound from lows recorded in mid-July, briefly surpassing the previous monthly peaks beyond $1,95/MMBtu. Rising open interest and volume coupled with this positive price action hints at the possibility of further gains ahead, with the next key target at the $2,00 per MMBtu.
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