Natural Gas Futures: Extra upside not ruled out

Traders reduced their open interest positions by nearly 4.2K contracts on Monday, resuming the downtrend after Friday’s build in light of advanced prints from CME Group. On the opposite direction, volume rose by around 181.2K contracts.

Natural Gas keeps targeting the $3.00 mark

Natural Gas prices briefly tested the $3.00 area per MMBtu at the beginning of the week, just to recede afterwards. The positive performance was in tandem with diminishing open interest, adding to the view that further gains look somewhat limited in the very near-term.