As traders continued to assess the demand impacts of scorching heat, albeit with more temperate conditions expected over the eastern Lower 48 by early August, natural gas futures probed modestly higher early Monday.

NGI Morning Natural Gas Price & Markets Coverage

The August Nymex contract was up 1.2 cents to $2.725/MMBtu at around 8:35 a.m. ET. September was up 1.4 cents to $2.721.

The front month eased lower in Friday’s trading after running up against technical resistance slightly under $2.79, EBW Analytics Group analyst Eli Rubin observed.

“Although technicals remain bullish and blistering heat is forecast to bake the Lower 48 throughout the week, soft weather-normalized fundamentals continue to impair the road higher for natural gas,” Rubin said.

Heat in some key markets could be poised to back off as the...