Open interest in natural gas futures markets rose for the second straight session on Monday, now by nearly 17K contracts in light of advanced figures from CME Group. Volume followed suit and increased sharply by around 365.7K contracts, reversing at the same time two consecutive drops.
NATURAL GAS NOW FOCUSES ON $3.00/MMBTU
Prices of natural gas rose to multi-day highs at the beginning of the week. The move was in tandem with rising open interest and volume, exposing further upside in the short-term horizon. That said, the commodity noa targets the psychological level at $3.00 per MMBtu.