Natural Gas Futures: Further gains look likely

Considering advanced prints from CME Group for natural gas futures markets, open interest rose marginally by 221 contracts at the end of last week, resuming the uptrend following the previous small drop. On the other hand, volume went down for the second straight session, now by around 68.2K contracts.

Natural Gas: Next up barrier comes at $2.80

Friday’s uptick in prices of natural gas was amidst a small increase in open interest, which seems to be enough to allow for the continuation of the rebound in the very near term. On its way north, the next hurdle comes at the weekly top around $2.80 per MMBtu (July 20).