US EditionIran war brings US close to net crude exporter for first time since World War Two
Asian and European buyers turned to U.S. crude as Middle East supply disruptions lifted exports toward capacity limits, analysts said.
- On April 16, US government data showed crude exports climbed to 5.2 million barrels per day last week, the highest in seven months, as global buyers replaced Middle East supplies cut by the Iran war.
- Iranian threats to shipping in the Strait of Hormuz stopped roughly one-fifth of global oil supplies, forcing refiners in Europe and Asia to seek alternative cargoes from the United States.
- Ship tracking service Kpler reported 47 per cent of US exports sailed to Europe last week, while about 37 per cent headed to Asia, reflecting strong international demand.
- Traders and analysts warn the United States is approaching its export capacity of 6 million barrels per day, with Dubai-based oil trader Bekzod Zukhritdinov noting every incremental barrel costs more in freight and logistics.
- Vortexa senior analyst Rohit Rathod noted about 80 empty supertankers were heading to the Gulf Coast on April 15, likely to pick up crude over April and May for future shipments.
19 Articles
19 Articles
Iran war brings US close to net crude exporter for first time since World War Two
The U.S. nearly turned into a net crude exporter last week for the first time since World War Two as shipments surged close to a record high to meet demand from Asian and European buyers scrambling to replace Middle East supplies cut by the Iran war.
Iran war brings U.S. close to net crude exporter for first time since World War II
The U.S. nearly turned into a net crude exporter last week for the first time since World War II as shipments surged close to a record high to meet demand from Asian and European buyers scrambling to replace Middle East supplies cut by the Iran war.
The United States has almost become a net exporter of crude oil for the first time since World War II as export volumes surged to record levels. Due to the increase in supplies, the country is struggling to meet the demand of Asia and Europe, which are looking for a replacement for supplies from the Middle East,...
China urges Iran to secure shipping in the Strait of Hormus +++ Bessent: Sanctions against buyers of Iranian oil – China particularly affected +++ The Newsblog.
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