US fuel exports have surged to a record high amid the energy crisis caused by the war in Iran. European and Asian countries are actively buying US oil products, which has already brought billions in profits to US energy companies.
This is reported by the Financial Times.
According to the US Energy Information Administration (EIA), last week the United States exported more than 8.2 million barrels of oil products per day. This includes petrol, diesel and jet fuel.
This is more than 20% more than in the same period last year.
The article notes that if energy prices remain high, American oil and gas companies could earn about USD 60 billion in additional profits by the end of the year.
Also, for the first time since World War II, the United States has become a net exporter of crude oil. The publication emphasizes that just over a decade ago, the country remained one of the largest oil importers in the world.
At the same time, the situation creates political risks for US President Donald Trump due to rising fuel prices in the country.
According to the FT, the average price of gasoline in the US has already reached a four-year high of USD 4.53 per gallon.
Despite this, the White House does not yet plan to limit the export of fuel, which has become critically important for European and Asian economies.
However, analysts do not rule out that Washington's position may change due to domestic political pressure.
Jeff Currie, senior energy advisor at investment company Carlyle, said that record exports are leading to a rapid reduction in US oil reserves.
"A shortage doesn't start when supplies run out. It starts when supplies run out," Currie said.
As Ukrainian News Agency earlier reported, oil prices rose more than 1% on Monday, April 27, after peace talks between the United States and Iran stalled and shipping through the Strait of Hormuz remained restricted, keeping tensions high on the global oil supply market.
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