Saudi Oil Exports to US Halted Amid Strait of Hormuz Tensions

Saudi Arabia has abruptly stopped supplying oil to the United States for the first time since 1985, according to preliminary data from the US government. Oil imports from Saudi Arabia in July fell to zero, marking a significant disruption in trade between the two nations.

The halt in supplies is attributed to disruptions in exports from the Persian Gulf caused by the conflict between the US and Iran, as well as restrictions on navigation through the Strait of Hormuz.

American oil refineries have begun seeking alternative sources of raw materials, with Venezuela emerging as a major supplier. In July, oil imports from Venezuela increased to around 600 thousand barrels per day, up from about 100 thousand at the beginning of the year.