Natural Gas Futures: Scope for a move higher

According to advanced figures from CME Group for natural gas futures markets, open interest reversed four consecutive daily drops and rose by around 14.3K contracts on Friday. On the other hand, volume went down by nearly 27K contracts.

Natural Gas now targets the $6.00 mark

Friday’s continuation of the rebound in prices of the natural gas was amidst rising open interest, indicative that further gains appear favoured in the very near term. Against this, the next hurdle of note comes at the $6.00 mark per MMBtu for the time being.