Natural Gas Futures: Further upside on the table

Traders increased their open interest positions for the second session in a row on Tuesday, this time by around 18.1K contracts in light of flash prints from CME Group. Volume followed suit and rose by around 160.7K contracts after three consecutive daily drops.

Natural Gas could attempt a move to $3.00/MMBtu

Prices of Natural Gas clinched new YTD peaks near the $2.80 mark per MMBtu on Tuesday. The noticeable advance was in tandem with open interest and volume, all signalling that further upside remains on the cards with the next target at the $3.00 level.