Natural Gas Futures: Rising bets for further upside

Considering preliminary reading from CME Group for natural gas futures markets, traders added around 12.4K contracts to their open interest positions on Thursday, reaching the third consecutive daily advance. In the same line, volume went up for the second straight day, now by around 119.1K contracts.

Natural Gas poised for extra advances

Prices of natural gas clinched new 2022 highs past $5.80 per MMBtu on Thursday. The uptick was in tandem with increasing open interest and volume, adding to the prospect for the continuation of the uptrend in the very near term.