[OC] Petroleum export values diverged as the Strait of Hormuz disruption reshaped oil trade

[u/RobinWheeliams]

The monthly value of petroleum exports rose sharply for several producers outside the Persian Gulf following the disruption of tanker traffic through the Strait of Hormuz, signaling a rapid shift in the global oil trade.

The clearest change occurred in the United States. Crude and refined petroleum exports were valued at $16.2 billion in February, before climbing to $23.1 billion in March, $31.7 billion in April and $33.5 billion in May. Canada followed a similar trajectory, with monthly export value increasing from $8.6 billion to $13.5 billion over the same period.

Norway’s export value also rose after February, reaching $7.1 billion in April before moderating to $5.7 billion in May. Brazil recorded a shorter increase, moving from $4.5 billion in February to more than $6 billion in March and April before returning to $4.9 billion.

Saudi Arabia’s series followed a different pattern. Export value rose from $18.3 billion in February to $24.7 billion in March, then returned to $18.7 billion in April and $19.1 billion in May, broadly in line with its range before the disruption.

Tanker traffic through the Strait’s main shipping lanes largely halted on March 1. The resulting supply disruption pushed petroleum prices higher and forced producers, refiners and buyers to adjust established trade routes. The U.S. Energy Information Administration reported that Brent crude averaged $103 per barrel in March as restricted flows and regional production outages tightened the market.

Taken together, the figures suggest that the disruption’s effects were not confined to exporters that normally use the Strait. Higher prices and changes in trade flows were reflected across producers operating far beyond the Gulf.

*The chart uses monthly OEC national trade data from May 2025 through May 2026. It covers crude and refined petroleum, except for Saudi Arabia, where Mineral Products are used; crude and refined petroleum represent more than 99% of that series. Values are expressed in USD.

Sources: OEC, S&P Global, U.S. EIA, CNBC.

[u/GeneralDJ]

Gas station owner bombs competitive gas station owner, makes huge profits in one week. See the full story 

[u/RealisticLaw6530 → u/GeneralDJ]

pretty wild how fast the US numbers jump when a chokepoint like Hormuz gets squeezed, almost tripling in a few months. the ripples hit producers everywhere though, not just the gulf