Natural Gas Futures: Door open to extra gains

Open interest in Natural Gas futures markets increased for the third session in a row on Monday, now by more than 31K contracts, the largest single day build so far this year according to advanced figures from CME Group. In the same direction, volume rose sharply by around 371.1K contracts.

Natural Gas consolidates the break above $3.00

Natural Gas prices surpassed the key $3.00 mark per MMBtu at the beginning of the week against the backdrop of increasing open interest and volume, which is indicative that the continuation of the rebound remains unchanged in the very near-term. Against this, there are no resistance levels of note until the so far 2021 high at $3.219 (February 17).