Natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018 as summer heat intensified concerns about tight supplies later this year. Gas for August delivery settled at $4.003, the highest closing price in 31 months. The premium for March 2022 gas over April futures — essentially a bet on how undersupplied the market will be at the end of next winter — reached 62.9 cents, hovering near a record high. Prices for the fuel are soaring across the globe as scorching weather stokes demand for electricity to run air conditioners. In the U.S., however, the rally is also underpinned by concern about a potential supply shortfall in the winter, when gas consumption peaks as homes and businesses crank up the heat. Stockpiles are already below normal for the time of year, and production growth has been restrained as […]