Natural Gas Futures: Room for extra gains near term

CME Group’s flash data for natural gas futures markets showed open interest reverse two consecutive daily pullbacks and rise by around 2.7K contracts on Friday. On the other hand, volume went down for the third session in a row, this time by around 71.6K contracts.

Natural Gas remains supported near $7.50

Prices of natural gas kept the optimism intact in the second half of last week amidst increasing open interest and a marked drop in volume. Against that, further upside should not be ruled out, although a sustained recovery appears not favoured in the very near term.