Natural Gas Futures: Still room for extra advances

Considering advanced prints from CME Group for natural gas futures markets, open interest increased for the fourth consecutive session on Wednesday, now by around 7.2K contracts. On the other hand, volume went down by around 47.2K contracts.

Natural Gas still targets $9.50

Wednesday’s strong upside in prices of natural gas was accompanied by rising open interest and therefore reinforced the case for the continuation of the uptrend in the very near term. That said, the next up barrier remains at the so far 2022 high near $9.50 per MMBtu (May 26).