Natural Gas Futures: Neutral/bullish near term

CME Group’s flash data for natural gas futures markets noted open interest rose fort the second session in a row, this time by nearly 10K contracts. On the other direction, volume reversed three daily pullbacks and shrank by around 193.1K contracts.

Natural Gas now targets the YTD highs around $3.30

Natural gas prices charted an inconclusive session on Wednesday, closing the day with small gains amidst increasing open interest. That said, while some consolidation is likely in the short-term horizon, natural has could still re-visit the so far 2021 peaks above the $3.30 mark per MMBtu (February 17).