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The world is lining up to buy American oil at an unprecedented rate
The US is the biggest beneficiary of a Strait of Hormuz blockade
Global Markets Investor
April 27, 2026
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GLOBAL MARKETS INVESTOR’S PORTFOLIO IS 🔥UP +93%🔥SINCE JANUARY 2024
DURING THE MARCH-APRIL 2025 MARKET TURMOIL, MAJOR US INDEXES FELL NEARLY 20%, WHILE THE GMI PORTFOLIO GAINED OVER 5%, FIND OUT HOW BELOW:
More than 60 empty crude supertankers were heading toward the US Gulf Coast as of Wednesday, ~3 times the pre-war level, the highest count on record, according to Kpler.
This comes as total US crude and petroleum product exports rose to a record 12.9 million barrels per day last week.
US exports to Asia of crude and LNG alone are up +30% in March and April versus the same period a year ago.
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The US also nearly flipped to a net crude exporter for the first time in weekly government data going back to 2001, as the Iran war effectively handed America the role of the world's emergency energy supplier.
LNG exports also set an all-time high last month, with countries like Japan, which sources ~95% of its oil imports from the Middle East, rushing to secure long-term US supply agreements.
Put simply, America is the biggest winner of the Strait of Hormuz closure.
Meanwhile, oil prices are set to stay elevated for longer than previously thought.
Goldman Sachs raised its Brent forecast to $100 per barrel in Q2 2026, up from a prior estimate of $80.
This comes as global oil inventories are drawing at a record pace of 11 to 12 million barrels per day in April, driven by 14.5 million barrels per day of lost Persian Gulf production, the largest supply shock in history.
Goldman now assumes Gulf exports will not normalize until the end of June, pushing back its prior estimate of mid-May, with a slower production recovery than previously expected.
In an adverse scenario where Gulf exports only normalize by the end of July, Goldman sees Brent averaging just over $100 in Q4 2026.
In a severely adverse scenario involving permanent capacity scarring of 2.5 million barrels per day, Brent could average nearly $120.
With Brent already near $106, the oil market is pricing in a supply crisis that shows no signs of resolving soon.
The longer Hormuz stays closed, the higher oil prices will go. This is not good for the global economy and equity markets.
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