Natural Gas Futures: Scope for extra gains
|CME Group’s flash data for natural gas futures markets noted open interest rose for the second session in a row on Monday, now by around 3.1K contracts. In the same line, volume reversed three consecutive daily pullbacks and went up by 59K contracts.
Natural Gas targets the 2022 high at $9.75
Prices of natural gas started the week in a positive fashion and closed above the $8.00 mark with certain conviction and amidst increasing open interest and volume. Against that, further rebound seems likely in the very near term and therefore natural gas keeps targeting the YTD high at $9.75 per MMBtu (July 26).
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