U.S. oil exports reach a record level

U.S. exports of petroleum products reached 8.2 million barrels per day, up 20% year‑on‑year. The increase is impacting domestic prices, with gasoline prices rising sharply to $4.50 per gallon (+50%). The risk of export restrictions exists if gasoline prices exceed $5 per gallon. Higher exports are also leading to lower petroleum product inventories. Diesel stocks are at their lowest level in 20 years.