Natural Gas Futures: Room for extra gains
CME Group’s advanced figures for Natural Gas futures markets noted open interest rose for the second session in a row on Friday, now by around 10.3K contracts. In the same line, volume reversed the previous drop and went up sharply by around 217.6K contracts.
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Natural Gas now targets $2.50/MMBtu
Prices of Natural Gas rallied on Friday to levels close to the $2.40 mark per MMBtu. The sharp move was in tandem with rising open interest and volume, allowing for the continuation of the upside, at least in the very near-term. That said, the immediate target remains at the $2.50 region.
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