A rapid rise in American fuel exports this year has helped push gasoline prices to a record $5 a gallon and is pressuring U.S. prices of natural gas, which hit the highest levels in over a decade earlier this month. In recent months, companies and commodities traders have shipped more U.S. gasoline and diesel to Latin America and other foreign markets, reaping higher prices than the fuel could fetch domestically. They have also sent more liquefied natural gas, or LNG, to Europe after Russia‚Äôs invasion of Ukraine . The jumps in fuel shipments abroad are further draining U.S. inventories that were already languishing at low levels after output cuts during the worst of the pandemic . Now, American oil-and-gas producers and refiners are struggling to keep up with resurgent demand. Created with Highcharts 9.0.1U.S. seaborne shipments of […]

Posted in: USA