Natural Gas Futures: Recovery could extend further

Open interest in natural gas futures markets increased for the third consecutive session on Thursday, now by around 6.3K contracts in light of advanced prints from CME Group. On the other hand, volume shrank for the second straight session, this time by more than 36K contracts.

Natural Gas now targets monthly peaks past $5.80

Thursday’s uptick in prices of natural gas was accompanied by increasing open interest, which is indicative that further upside could be in the pipeline in the very near term. The commodity regained the $5.00 mark per MMBtu and above and could extend the recovery to the monthly highs past $5.80 (November 4).