President Donald Trump said there is no need to impose restrictions on U.S. oil
or jet fuel exports despite global supply shortages caused by disruptions in the
Strait of Hormuz. Speaking in Washington, Trump said the U.S. has “tremendous
amounts of oil” and praised the surge in exports that has made the country the
world’s largest crude exporter ahead of Saudi Arabia. Analysts have warned that
Elevated export levels could strain domestic supply capacity, but Trump
dismissed those concerns and said ships are increasingly loading crude from
ports in Texas, Louisiana and Alaska as trade routes shift away from Hormuz.
