Natural Gas Futures: Green light to further gains

Considering preliminary readings from CME Group for crude oil futures markets, open interest increased by around 4.5K contracts on Wednesday. Volume followed suit and rose for the second straight session, now by around 24.5K contracts.

Natural Gas now looks to $7.36

The rally in prices of the natural gas remained unabated for yet another session on Wednesday. The daily uptick was on the back of increasing open interest and volume, leaving the door open to extra upside in the very near term. Against that, the next target of note comes at the November 2008 high at $7.36 per MMBtu.