Natural Gas Futures: Further gains on the cards

In light of advanced prints from CME Group for natural gas futures markets, open interest increased for the second consecutive session on Tuesday, this time by around 2.2K contracts. In the same line, volume went up by more than 55K contracts, partially reversing the previous drop.

Natural Gas approaches $3.00/MMBtu

Natural gas prices extended the weekly recovery on Tuesday on the back of rising open interest. The commodity is now flirting with the minor resistance near $2.90 per MMBtu, where sits the 20-day SMA, and re-targets the psychological $3.00 mark in the short-term.