Natural Gas Futures: Further gains in the pipeline

Open interest in natural gas futures markets shrank for the third consecutive session on Friday, this time by around 9.8K contracts. In the same direction, volume dropped by nearly 141K contracts, reaching the second daily pullback in a row.

Natural Gas appears limited by $6.50

Friday’s downtick in prices of natural gas was amidst shrinking open interest and volume, leaving the door open to the resumption of the uptrend in the very near term. That said, natural gas is forecast to re-shift the focus to recent 2021 peaks in the vicinity of $6.50 mark per MMBtu.