Considering advanced prints from CME Group for natural gas futures markets, open interest rose by around 11.2K contracts on Friday, reversing the previous daily pullback. On the other hand, volume shrank for the second straight session, this time by around 25.2K contracts.
Natural Gas: The hunt for $9.60
Friday’s strong advance in prices of natural gas was on the back of rising open interest and hints at the idea that extra gains appear likely in the very near term. Against that, the commodity could now be headed towards the 2022 high past $9.60 mark per MMBtu (June 8).
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