Natural Gas Futures: Further Advances Appear Favored

Open interest in natural gas futures markets increased for the fourth consecutive day on Tuesday, this time by nearly 21K contracts, the largest single-day build since February 1. In the same line, the volume went up by around 146.7K contracts, reversing at the same time three consecutive daily pullbacks.

Natural Gas looks side-lined for the time being

Prices of natural gas printed decent gains on Tuesday in tandem with increasing open interest and volume, which exposes a near-term bounce, although always against the backdrop of the current consolidative fashion. So far, the commodity remains stuck within the $2.00-$3.00 MMBtu range for the time being.

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