Natural gas futures declined nearly 4% on Thursday after the US government reported a larger-than-expected supply build. Natural gas prices have plummeted this week, erasing most of this year’s gains amid cooling temperatures and easing tensions between Israel and Iran.

July natural gas futures fell $0.126, or 3.7%, to $3.28 per million British thermal units (Btu) at 14:44 GMT on Thursday on the New York Mercantile Exchange. Natural gas prices are on track for a weekly loss of about 17% and are up just 5% year-to-date.

For the week ending June 20, US natural gas supplies increased by 96 billion cubic feet, up from 95 billion cubic feet in the previous week, according to the Energy Information Administration (EIA). This is slightly above the consensus forecast of 88 billion cubic feet.

This latest build was broad-based, driven by South Central (29 billion cubic feet), Midwest (27 billion cubic feet), and East (26 billion cubic feet).

In total, domestic supplies stood at 2.898 trillion cubic feet, a decrease of 196 billion cubic feet from the same period last year. They are also 179 billion cubic feet above the five-year average.

After several days of oppressive temperatures across much of the United States, weather conditions appear to be cooling down, which could lower cooling demand in the days leading up to July.

Meanwhile, natural gas prices appeared to join the broader energy market selloff as the situation in the Middle East improved.

For now, Iran’s retaliation on a US base in Qatar could be the height of its response to President Donald Trump’s attacks on three nuclear facilities.

Oil prices have picked up modest gains following the steep decline earlier this week. Petroleum demand has been robust, with the EIA reporting a 5.836-million-barrel drawdown last week. Gasoline supplies also fell by 2.075 million barrels.

Across the energy commodities market on Thursday, July West Texas Intermediate (WTI) crude oil futures rose $1.24, or 1.91%, to $66.16 a barrel. August Brent crude futures added $1.06, or 1.6%, to $67.49 per barrel. July gasoline futures advanced $0.0311, or 1.51%, to $2.0971 a gallon. July heating oil futures tacked on $0.0596, or 2.65%, to $2.3164 per gallon.