Natural Gas Futures: Green light to further gains

CME Group’s flash data for natural gas futures markets noted traders increased their open interest positions for the fourth session in a row on Tuesday, this time by around 7.7K contracts. In the same line, volume went up by more than 1K contracts, adding to the previous daily build.

Natural Gas now challenges $3.00

Prices of natural gas rose sharply on Tuesday, almost fully fading the strong pullback seen at the beginning of the week. The move was on the back of increasing open interest and volume, indicating that extra gains appears in store in the very near term. That said, the next target on the upside emerges at the key $3.00 region per MMBtu.