US crude oil inventories see record-largest drop as Middle East conflict drives surge in US oil exports

The outbreak of war in Iran has resulted in major buyers in Asia and Europe being unable to access Middle Eastern crude oil, and the United States has now emerged as the world's leading crude oil supplier. Data from the U.S. Energy Information Administration shows that after a drop in crude oil inventories, U.S. stockpiles have fallen to their lowest level in nearly a year.