Open interest in natural gas futures markets went down for the second session in a row at the beginning of the week, now by 4.5K contracts in light of preliminary readings from CME Group. Volume, instead, extended the choppy performance and rose by around 246.7K contracts.
Natural Gas now targets… the sky?
Prices of natural gas climbed to levels last seen in February 2014 well past the $6.00 mark per MMBtu. Monday’s uptick was amidst rising open interest which is indicative that further gains remain on the cards for the time being. The immediate target on the upside now comes at the 2013 highs near $6.50 per MMBtu.
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