Natural Gas Futures: Further gains on the cards

Traders increased their open interest positions for the third straight session at the end of last week, now by just 912 contracts according to advanced figures from CME Group. Volume, instead, dropped for the second session in a row, now by around 46.7K contracts.

Natural Gas could retest $3.15

Prices of natural gas posted decent gains on Friday amidst rising open interest. Against this, the commodity could extend the upside and re-visit May peaks around $3.15 per MMBtu in the short-term horizon (May 17).