Natural Gas Futures: Scope for extra gains

Open interest in natural gas futures markets rose for the third session in a row on Monday, this time by more than 6K contracts considering flash data from CME Group. On the other hand, volume retreated for the second consecutive session, now by around 96.4K contracts.

Natural gas looks to tops around $4.20

Natural gas prices finally managed to reverse the recent weakness and closed with decent gains on Monday. The move was accompanied by rising open interest, which is supportive of further recovery in the very near term. That said, the next level of relevance emerges at the YTD peaks around $4.20 per MMBtu.