Natural gas futures plummeted more than 4% on Thursday following a fourth consecutive US storage build that topped expectations. Natural gas has been the only energy commodity to weather the Iranian conflict, remaining negative for the year.

May natural gas futures declined $0.116, or 4.26%, to $2.606 per million British thermal units (Btu) at 15:22 GMT on Thursday on the New York Mercantile Exchange. Natural gas is poised for a weekly loss of about 2%, adding to its year-to-date decline of 18%.

The United States has enough natural gas and continues to produce to meet global demand.

For the week ending April 17, domestic natural gas inventories surged 103 billion cubic feet, from the previous week’s 59 billion cubic feet, according to the US Energy Information Administration.

This is higher than the consensus forecast of 94 billion cubic feet.

The increase was broad-based, led by the South Central (40 billion cubic feet), the Midwest (33 billion cubic feet), and the East (26 billion cubic feet).

In total, US natural gas storage levels stand at 2.063 trillion cubic feet, up 142 billion cubic feet from the same time a year ago, and 137 billion cubic feet above the five-year average.

While crude oil and gasoline prices have surged during the eight-week-old war in Iran, US natural gas prices remain low, even as the United States bolsters liquefied natural gas (LNG) exports.

Energy prices could remain elevated as there are few signs that the conflict will be resolved anytime soon.

President Donald Trump ordered the Navy to “shoot and kill” boats laying mines in the Strait of Hormuz. Prediction markets do not see the narrow waterway normalizing until July. Another round of peace talks has not been announced.

In other energy commodities, May West Texas Intermediate (WTI) crude oil futures rose $0.52, or 0.56%, to $93.48 per barrel. June Brent crude futures jumped $0.93, or 0.91%, to $102.84 a barrel. May gasoline futures swelled $0.0996, or 2.97%, to $3.2583 a gallon. May heating oil futures ticked up $0.0217, or 0.57%, to $3.7944 per gallon.