Natural Gas Futures: Upside looks unabated

CME Group’s advanced prints for natural gas futures markets noted open interest increased by around 8.6K contracts on Friday, clinching the third daily build in a row. On the other hand, volume dropped by around 74.5K contracts following two consecutive daily builds.

Natural Gas now eyes $4.70

The rally in natural gas remains well and sound and could extend even further following Friday’s continuation of the uptrend in open interest coupled with positive price action. That said, prices of natural gas now target the December 2018 highs near the $4.70 mark per MMBtu.