U.S. natural gas futures continue to claw back ground after their slide under $3, edging higher for a third consecutive session as traders await fresh supply data. Market focus remains squarely on the EIA's weekly storage report, scheduled for release at 10:30 a.m. ET, which could dictate near-term price direction.

Analysts surveyed by the Wall Street Journal expect a 44 Bcf injection into storage, a figure that would leave the surplus over the five-year average practically unchanged. The report "has increased significance after three straight bearish readings, although the July 4 holiday raised uncertainty," Eli Rubin of EBW Analytics wrote in a research note. He added that a bullish reading relative to consensus estimates "may let August retest $3.00/mm Btu."

On the Nymex, the benchmark August contract rose 0.4% to $2.935/mm Btu, extending its recovery from recent lows. Traders are watching whether the storage data can sustain the momentum or if oversupply concerns will reassert downward pressure.