After largely absorbing the bearish impact of a cooler shift in forecasts heading into the current trading week, natural gas futures rebounded early Tuesday amid signs the market remains optimistic about summer pricing. 

NGI Morning Natural Gas Price & Markets Coverage

The June Nymex contract, set to expire this week, was up 3.4 cents to $2.920/MMBtu at around 8:50 a.m. ET. July was up 3.5 cents to $2.995.

Injection season natural gas contracts showed “resilience” in Monday’s session by recouping most of the losses that had been triggered by a drop in cooling demand expectations from forecasts over the weekend, according to analysts at EBW Analytics Group.

“The strength of this rebound was particularly impressive since there was no obvious catalyst,” the EBW analysts said. “Midday weather model runs were largely...