U.S. crude oil exports are expected to reach a record high in April

According to the Financial Times, due to the Iran war causing disruptions in Middle Eastern oil supplies, Asian customers are seeking alternative sources. U.S. crude oil exports in April are expected to rise from 3.9 million barrels per day in March to 5.2 million barrels per day, an increase of nearly one-third. Data from oil research institute Kpler shows that Asian demand will increase by 82%, reaching 2.5 million barrels per day. Currently, 68 empty oil tankers are heading to the U.S., compared to 24 in the week before the war. The Trump administration currently does not plan to ban oil exports, but analysts warn that the situation in the Middle East may drive up fuel costs.