Natural Gas Futures: Extra gains not ruled out

CME Group’s flash data for natural gas futures markets noted open interest rose marginally by just 84 contracts at the end of last week, resuming the uptrend after the previous day’s pullback. Volume, instead, dropped by around 77.7K contracts and offset the previous build.

Natural Gas could face some near-term consolidation

Natural gas prices charted decent gains on Friday amidst some consolidative mood. That uptick was amidst a small increase in open interest and a strong drop in volume, exposing some consolidation in the very near term. The longer run target remains at the 2022 high at $9.75 per MMBtu (July 26).