Trump Rejects US Oil and Jet Fuel Export Curbs Amid Iran War Fuel Shortages
President Donald Trump said he would not impose curbs on U.S. oil or jet-fuel exports despite shortages tied to the war with Iran, telling reporters, "I don’t need them" and saying the country has "tremendous amounts of oil." The comments leave unchanged an export policy that has helped meet overseas demand as the conflict tightens global fuel markets.
The stance comes as weekly Energy Information Administration data showed U.S. refined-product exports rose to a record 8.334 million barrels a day last week and total petroleum inventories fell 11.1 million barrels, including a 5.2 million-barrel draw from the Strategic Petroleum Reserve. Analysis based on the same data shows combined U.S. stocks of gasoline, diesel, jet fuel and other refined products have dropped 45 million barrels since the U.S.-Iran war began at the end of February, with distillate inventories at their lowest seasonal level in more than two decades.
From the sources (25 posts)
@staunovoGlobal oil reserves plunge at record pace as Middle East war strains supplies Stocks near 8-year low ahead of summer travel season despite collapse in demand #oott
@staunovoStockpiles of crude fell by nearly 200mn barrels, or 6.6mn barrels a day, estimated S&P Global Energy, even as higher prices triggered a collapse in demand of about 5mn b/d, the sharpest ever fall outside of the Covid-19 pandemic. #oot
@hfi_researchRT @staunovo: Stockpiles of crude fell by nearly 200mn barrels, or 6.6mn barrels a day, estimated S&P Global Energy, even as higher prices…
@gasbuddyguythey sure are- records amounts of oil and refined products left U.S. shores in the last week, and we'll likely set another record this week. U.S. gasoline inventories are already at multi-year seasonal lows- which means prices will face eve
@globalmktobserv🔴Global oil inventories are the world's last line of defense against the Iran war oil shock: JPMorgan estimates global inventories will fall to ~7.6 billion barrels by June 2026, the lowest level since at least 2017👇
@oilandenergyU.S. crude exports have hit record levels at 5.2M bpd, acting as the global supply of last resort, but inventory drawdowns are tightening domestic balances and raising long-term risks. #Oil #EnergyMarkets #OOTT #Geopolitics
@ericnuttallRT @ericnuttall: There is a giant sucking sound in the United States…in just one week diesel inventories fell by 4%, gasoline inventories f…
@staunovoWith the US-Iran war creeping into its third month, oil traders are hedging against divergent outcomes tied to US inventories as the newly anointed top crude exporter faces unprecedented pressure to meet global demand. One of the hedges, a
@staunovoRT @JuliOnTwtr: API Inventory Moves 05/05 Crude Oil -8.1 million (exp. -2.8 million) Gasoline -6.1 million Distillates -4.6 million Cus…
@oilandenergyRT @JuliOnTwtr: API Inventory Moves 05/05 Crude Oil -8.1 million (exp. -2.8 million) Gasoline -6.1 million Distillates -4.6 million Cus…
@tomklozaRuh-Ro!!
@rory_johnstonUS petroleum inventory like
@oilheadlinenewsAPI Crude Oil -8.1 million Gasoline -6.1 million Distillates -4.6 million Cushing -1 million SPR -5.2 million
@joshyoungI like big draws
@gasbuddyguyUS oil and refined product inventories in the last few weeks
@gasbuddyguyUS petroleum inventories...
@hfi_researchBACD Keep in mind that API underestimated crude draws last week. EIA will be lower on the crude draw. Likely around the -5 million bbls we forecasted.
@oilandenergyU.S. crude inventories plunged by 8.1M barrels, far exceeding expectations, while gasoline and distillate stocks also saw sharp draws, signaling tightening fuel markets. #Oil #OOTT #EnergyMarkets #Inventory
@joshyoungIs this because of the huge inventory decline?
@rory_johnstonA view on record weekly US petroleum exports ahead of tomorrow's EIA update.
@gasbuddyguyUS refined product exports reached a new all-time record- 8.224 million barrels per day or 57.6 million barrels in the last week
@rory_johnstonUS crude exports slipped according to the latest EIA weekly data, but refined product exports hit a fresh all-time high.
@dlacalle_iaUS exports of oil products rose to a record high last week at 8.2 million barrels a day.
@staunovoUS refined product exports rose to record 8.334mbpd last week - EIA #oott
@rory_johnstonUS petroleum inventories fell by 11.1 MMbbl last week between commercial stocks (-5.9 MMbbl) and the SPR (-5.2 MMbbl) Commercial crude -2.3, gasoline -2.4, diesel -1.3, jet fuel -0.6, propane -1.3. Big draw, but roughly half the size of l