Natural Gas Futures: Scope for extra upside

Considering preliminary prints from CME Group for natural gas futures markets, open interest increased by around 11.4K contracts on Thursday, reversing the previous daily pullback. In the same direction, volume kept the erratic performance and went up by nearly 130K contracts.

Natural Gas still looks to $5.00

Thursday’s uptick in prices of natural gas was on the back of increasing open interest and volume, favouring extra gains in the very near term and with the immediate target at the $5.00 mark per MMBtu.