Open interest in natural gas futures markets reversed the previous drop and rose by around 4.7K contracts on Wednesday, in light of advanced figures from CME Group. Volume followed suit and rose by around 94.6K contracts, extending the erratic activity seen in past sessions.
NATURAL GAS STILL LOOKS TO $3.00/MMBTU
Wednesday’s upside in prices of natural gas was in tandem with increasing open interest and volume, exposing the continuation of the ongoing recovery in the very near-term. That said, the next hurdle of relevance still emerges at the $3.00 mark per MMBtu.