- US oil exports are approaching a new record high of 5,48 million barrels per day after the closure of the Strait of Hormuz diverted buyers to US supplies.
- Last week, oil and petroleum product exports totaled nearly 12,9 million barrels per day, while liquefied natural gas shipments reached a monthly record.
Following the closure of the Strait of Hormuz, which has forced buyers in Asia and Europe to look to the US for supplies, US monthly oil exports could reach a new record high of 5,48 million barrels per day.
U.S. Energy Information Administration reported, that last week, U.S. crude oil and petroleum product exports rose to nearly 12,9 million barrels per day, the highest level ever recorded.
In early April, the price of Brent crude oil linked to the delivery date exceeded the price of the one-month Brent crude futures contract by more than $25 per barrel. This is a very rare occurrence for these two prices, which usually do not differ significantly.
The premium rose because, after traffic through the Strait of Hormuz was halted, buyers urgently needed real barrels. Shipments scheduled to pass through the strait were in doubt, forcing refiners to seek other sources of supply.
Before the war, about 20 million barrels of oil and petroleum products passed through the strait daily.
Previously appeared messages that Iran would charge cryptocurrency fees for passage through the Strait of Hormuz. However, the country’s authorities then refuted this information.
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