Approval for more increases in Natural Gas Futures gains
CME Group’s Flash Data Shows Increase in Natural Gas Futures
Traders Show Growing Interest in Natural Gas Futures
CME Group’s flash data for natural gas futures markets revealed that traders have been increasing their open interest positions for the fourth session in a row. On Tuesday, they added around 7.7K contracts to their positions. Additionally, the volume of contracts also went up by more than 1K, continuing the trend of daily growth.
Natural Gas Prices Rise Sharply
The prices of natural gas experienced a significant increase on Tuesday, almost completely recovering from the initial decline seen earlier in the week. This rise in prices can be attributed to the growing open interest and volume in the futures market. This suggests that there may be further gains in the near future.
Next Target: $3.00 per MMBtu
Looking ahead, the next target for natural gas prices is the key $3.00 region per MMBtu. If the current trend continues, we may see prices reach this level soon.