US Crude Exports Surge Amid Middle East Supply Disruption 📈

The energy sector faced historic shifts last week as the U.S. nearly became a net crude exporter for the first time since 1943. Conflict in the Middle East has disrupted ~20% of global oil and gas supply via the Strait of Hormuz, forcing global refiners to pivot toward American crude. • Record Figures: Net crude imports narrowed to just 66,000 bpd—the lowest since 2001—while U.S. exports climbed to 5.2 million bpd. • Regional Demand: Approximately 47% (2.4 million bpd) of shipments headed to Europe, while 37% (1.49 million bpd) targeted Asia, including key markets like Japan and South Korea. • Price Dynamics: The premium for Brent crude over WTI widened to $20.69/barrel, making U.S. oil & energy exports significantly more attractive despite rising shipping costs. • Capacity Constraints: Analysts suggest the U.S. is nearing its export ceiling of ~6 million bpd due to pipeline and vessel limitations. For Sri Lanka’s logistics & shipping and petroleum sectors, this shift underscores extreme volatility in global benchmarks, with Brent hitting record physical delivery prices near $150/barrel. _(Based on Kpler and U.S. Govt data)_