Natural Gas Futures: Door open to further upside

Considering advanced prints for gas futures markets, open interest rose for the fourth straight session on Tuesday, this point by around 22.5K contracts, the very best level since May17. Volume followed suit and went up by around 282K contracts after two daily drops during a row.

Natural Gas now targets the 2021 peaks above $3.30
Tuesday’s uptick in prices of gas was on the rear of rising both open interest and volume, paving the way for further gains within the very near-term. Against this, subsequent hurdle of note comes in at the YTD highs beyond the $3.30 mark per MMBtu (February 17).

 

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