Iran War Pushes U.S. to Brink of Net Oil Exporter Status Not Seen Since WWII

By Arathy Somasekhar and Georgina McCartney

HOUSTON, April 15 (Reuters) – The U.S. nearly turned into a net crude exporter last week for the first time since World War Two as shipments surged close to a record high to meet demand from Asian and European buyers scrambling to replace Middle East supplies cut by the Iran war.

The U.S. and Israel’s war with Iran triggered the largest ever disruption to the global energy market as Iranian threats to shipping stopped around a fifth of the world’s oil and gas supplies from transiting the Strait of Hormuz waterway. 

Refiners in Asia and Europe