U.S. Energy Exports Hit Record 12.9M Barrels Per Day

U.S. energy exports reached a record high last week, surging to 12.9 million barrels per day of crude oil and petroleum products, as global buyers turned to American supplies amid the ongoing closure of the Strait of Hormuz. The disruptions, stemming from the U.S.-Iran conflict that escalated in late February, have positioned the United States as a key alternative source for oil and liquefied natural gas to markets in Asia and Europe.

The U.S. Energy Information Administration reported the export spike, which includes about 5.2 million barrels per day of crude alone, marking the highest levels on record. Liquefied natural gas shipments also hit new peaks, with March volumes reaching 11.7 million metric tons, according to tracking data. This boom follows the blockage of roughly 20 million barrels per day of oil and significant LNG flows through the strait, a vital chokepoint south of Iran that previously handled about 20 percent of global seaborne oil trade.

The crisis began with U.S. and Israeli strikes on Iranian targets in late February, prompting Iran to restrict access to the strait and target vessels. In response, American forces imposed a naval blockade on Iranian ports,...