Saudi Oil Imports to US Plummet to Zero Amid Iran Conflict

US oil imports from Saudi Arabia have dropped to zero for the first time in over 40 years, according to preliminary government data. The halt in Saudi oil exports to the US is due to disruptions caused by the US-Iran conflict, which has largely shut down Persian Gulf crude flows.

The data released by the US Department of Energy confirmed that US-bound shipments of Saudi crude stopped completely last month. This represents a sharp change from earlier this year, when US refiners were purchasing more than 800,000 barrels of Saudi oil daily.

US refiners have been looking for alternatives to Saudi cargoes as the closure of the Strait of Hormuz and other war-related disruptions pushed up prices for barrels tied to the global benchmark. Phillips 66 reduced the share of Middle Eastern crude flowing into its plants to less than 1%, said CEO Mark Lashier.