Propelled by strong summer heat and associated cooling demand, natural gas futures showed no signs of losing momentum early Tuesday. Even after several straight sessions of gains, bulls remained in control early, sending the August Nymex contract 11.9 cents higher to $3.712/MMBtu at around 8:45 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

The August contract surged 7.3 cents higher in Monday’s session, a rally that analysts at EBW Analytics Group attributed to near-term heat and corresponding strength in the physical market.

“With forecasts calling for 13.39 day-ahead” cooling degree days (CDD), “gas prices at Henry Hub rose 15.5 cents to average $3.565, with high prices at most other hubs nationally,” the EBW analysts said. “The cash market remains extremely tight this morning, sending futures even...