Natural Gas Futures: Extra gains remain on the cards

Advanced figures from CME Group for natural gas futures markets noted open interest rose for the third straight session on Thursday, this time by nearly 7K contracts. In the same line, volume increased by almost 18K contracts, partially reversing the previous drop.

Natural gas still targets $3.30 and above

Prices of natural gas extended the move further north of the key $3.00 mark per MMBtu on Thursday. Further gains are now likely following the positive price action in combination with rising open interest. That said, the next target of note emerges at the so far YTD high at $3.316 (February 17).