Natural Gas Futures: Further upside on the cards

According to advanced figures for natural gas futures markets from CME Group, open interest extended the uptrend for yet another session on Friday, this time rising by around 10.1K contracts. On the other hand, volume went down for the second session in a row, now by around 185.8K contracts.

Natural now looks to $3.40/MMBtu

Prices of natural gas navigate the area above the key $3.00 mark per MMBtu early on Monday. Friday’s positive price action was amidst an increment in open interest and hints at the idea that further gains remain on the cards. That said, the 2020 highs around $3.40/MMBtu (October 30) emerge as the next hurdle of note.