Natural Gas Futures: Extra rebound in the pipeline

Open interest in natural gas futures markets increased by around 8.7K contracts on Thursday after four consecutive daily pullbacks according to flash data from CME Group. Volume followed suit and rose by more than 16K contracts.

Natural Gas now looks to YTD tops

Prices of natural gas rose sharply on Thursday amidst rising open interest and volume, which is supportive of the continuation of the uptrend, at least in the very near term. Against that, the commodity is now expected to re-shift its focus to the 2021 peaks around $6.30 per MMBtu (September 28).