The price of natural gas futures rose during Thursday’s trading, supported by expectations of a decline in the supply of crude and following US inventory data.

Natural gas succeeded in exceeding $4 per million British thermal units during trading for the first time since December 2018, after falling earlier after data showed US inventories rose more than expected last week.

Data from the US Energy Information Administration showed that natural gas stocks rose 49 billion cubic feet in the week ending July 16, while expectations were for an increase of 42 billion cubic feet.

Investors fear that this summer’s high temperatures will increase demand for natural gas, which could lead to supply shortages later this year.

The price of natural gas futures rose by 0.9% to $4 per million British thermal units at 8:19 pm Cairo time, after reaching $4,001 earlier.