Sustained double-digit natural gas futures prices remained a distinct near-term possibility in early trading Tuesday as the front month probed higher, riding technical momentum and benefitting from a temporary decline in updated production estimates.

NGI Morning Natural Gas Price & Markets Coverage

The September contract was up 5.7 cents to $9.737/MMBtu as of around 8:45 a.m. ET.

In a potential sign of things to come, the prompt month posted a high of $10.01 in after-hours trading ahead of Tuesday’s session.

The technical outlook points to a “risk of further gains ahead,” according to EBW Analytics Group senior analyst Eli Rubin.

Recent estimates showing strength in supply out of the South Central Lower 48 suggest further gains for domestic production to close out the month, “creating the potential for a relapse...