A robust cooling demand outlook into the second half of July supported further gains for natural gas futures early Thursday as traders prepared to assess the latest government inventory data. 

NGI Morning Natural Gas Price & Markets Coverage

The August Nymex contract was up 19.0 cents to $6.879/MMBtu at around 8:50 a.m. ET, extending a 52.6-cent rally from the previous session. 

Surveys ahead of the latest Energy Information Administration (EIA) storage report, scheduled for 10:30 a.m. ET, suggest consensus forming around a build in the upper 50s to low 60s for the week ended July 8.

Results of Bloomberg’s poll as of Wednesday showed a median injection estimate of 58 Bcf, with a low estimate of 53 Bcf and a high of 72 Bcf. Reuters’ survey produced injection estimates that spanned 48 Bcf to 69 Bcf. It landed at a median...