With bulls trying to capitalize on the momentum created by some strong performances in last week’s trading, natural gas futures advanced modestly higher early Monday. The September Nymex contract was up 1.2 cents to $2.782/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Natural gas futures will enter the new week attempting to “build on last week’s gains,” which included a soaring mid-week rally, according to EBW Analytics Group analyst Eli Rubin.

Price action Friday saw the market steady itself following Thursday’s 19.6-cent sell-off, “attempting to consolidate gains after last week’s short squeeze-fueled price surge,” Rubin said.

Power burns could strengthen regionally this week amid searing temperatures over Texas and the Pacific Northwest, as well as “dipping mid-week...