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Wow, Trump is really a shrewd businessman—you can even sell American oil on the side!
A large number of empty oil tankers are heading to the United States, and U.S. crude oil export volume is expected to hit a record high in April.
According to the Financial Times, because Asian customers are rushing to find alternative Middle Eastern oil supplies disrupted by the Iran war, the volume of U.S. crude oil exports is expected to reach 5.2 million barrels per day in April, up nearly one-third from 3.9 million barrels per day in March. Of that increase, demand from Asian customers is up 82% to 2.5 million barrels per day. Data from oil research firm Kpler shows that there are currently 68 empty oil tankers en route to the United States, compared with 24 in the week before the war broke out on February 28, and an average of 27 last year. On Tuesday, the U.S. and Iran announced a two-week ceasefire, but after Israel attacked Lebanon, Iran said on Wednesday that it is shutting down the Strait of Hormuz. The blockade over the previous several weeks had pushed U.S. oil prices up by more than 50%. Earlier this week, WTI crude touched a four-year high of more than $110 per barrel, and it is still more than 40% higher than before the war. The Trump administration has announced the release of more than 170 million barrels of oil from strategic petroleum reserves to rein in fuel prices, but U.S. gasoline prices have, for the first time in four years, broken above $4 per gallon.$ETH
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