Natural Gas Futures: Further upside likely

CME Group’s advanced prints for natural gas futures markets noted open interest went up for the fourth session in a row on Friday, this time by more than 34K contracts, the largest single-day build so far this year. Volume followed suit and rose by around 196.3K contracts, clinching the second straight build.

Natural Gas in YTD highs

Prices of natural gas finally reached the area of yearly highs around the $3.30 mark per MMBtu. Friday’s uptick was in tandem with rising open interest and volume, leaving the door open to extra upside in the short-term horizon.