Natural Gas Futures: Rally has further legs to go

Open interest in natural gas futures markets extended the uptrend on Thursday, now by 7.6K contracts in light of advanced figures from CME Group. In the same line, volume rose for the third straight session, this time by around 86.3K contracts.

Natural Gas now looks to $6.50

Natural gas prices remained firm and recorded fresh 2022 highs well north of the $6.00 mark on Thursday. Extra gains appear in the pipeline supported by rising open interest and volume. That said, natural gas now targets the $6.50 level per MMBtu, an area last traded in early October 2021 and in February 2014.