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Natural Gas Futures: Further upside in the pipeline
Open interest in natural gas futures markets rose for the first time on Monday after six daily pullbacks in a row, this time by around 15.2K contracts. Volume followed suit and rose by around 150.5K contracts after five consecutive daily drops.
Natural Gas looks to 2021 highs near $6.50
Monday’s sharp advance in prices of natural gas was in tandem with increasing open interest and volume, which is indicative that further gains appear likely in the very near term. On this, natural gas now shift their focus of attention to the YTD highs near the $6.50 mark per MMBtu (October 6).
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