Natural Gas Futures: Extra gains on the cards

Open interest in natural gas futures markets extended the erratic performance and rose by around 29.5K contracts on Wednesday considering preliminary readings from CME Group. In the same direction, volume reversed the previous drop and gained around 110.8K contracts.

Natural Gas approaches $6.00

Wednesday’s positive price action was on the back of rising open interest and volume and exposes the continuation of the weekly rebound in the very near term. That said, natural gas continues to target the key $6.00 mark per MMBtu for the time being.