From Reuters, June 27:
U.S. Gulf Coast crude oil exports to touch record high this quarter
Exports of crude oil from the U.S. Gulf Coast could hit a record 3.3 million barrels per day (bpd) this quarter, analysts said on Monday, as Europe chases U.S. crude to offset sanctioned Russian oil.
U.S. exports have risen in the last three months, helped by Washington's decision to release 180 million barrels of oil from the nation's Strategic Petroleum Reserve, which have flooded the domestic market.
Exports to Europe are expected to average about 1.4 million (bpd) this quarter, about 30% higher than the year-ago quarter, while export to Asia is set to drop to under 1 million bpd, according to energy data firm Kpler....
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WTI $113.12 up $1.36; Brent $119.48 up $1.50
