The third week of the injection season saw a significant injection into storage, with the injection coming in at 90 BCF, slightly above market expectations of a 87 BCF addition. The market was down in expectation of the largest injection for the third week of the storage season, but appears not to be reacting to the bearish number beyond pre-storage report release falls. Currently, we would need to average 77 BCF/week in injections to get to the EIA’s projected storage number, which is above historical norms but below last year’s fill rate of 90 BCF/week. While this report is bearish, there does seem to be market sentiment to stay above the $2.50 mark. However, as seen in the charts below, strip prices are the lowest they have been in the past 3 years.