US crude exports hit near record highs during Iran war
US crude exports hit 5.2 million barrels per day last week. The nation is now close to net exporter status for the first time since 1943 as buyers replace Middle East oil.
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The United States is nearing a historic shift toward becoming a net crude exporter for the first time since 1943. This development is largely a result of the escalating conflict between Israel and Iran, which has triggered unprecedented volatility in global energy markets. Threats to shipping in the Middle East have effectively blocked nearly one-fifth of the world's supply of oil and Natural Gas from passing through the critical Strait of Hormuz.
