HOUSTON, Texas: A sharp disruption to Middle East oil flows has pushed the United States to the brink of becoming a net crude exporter for the first time in decades, as global buyers turn to American supplies to fill the gap.

The U.S. nearly reached that milestone last week as crude exports surged to meet demand in Europe and Asia, where refiners have been scrambling to replace supplies affected by the war with Iran.

The conflict involving the U.S. and Israel has triggered what analysts describe as the largest-ever disruption to global energy markets, after Iranian threats to shipping halted roughly a fifth of the world's oil and gas flows through the Strait of Hormuz.

Refiners dependent on Middle Eastern crude have increasingly sourced cargoes from the U.S., the world's largest oil producer, boosting export volumes sharply.

Government data released this week showed that net U.S. crude imports, the gap between imports and exports, narrowed to just 66,000 barrels per day last week, the lowest level since weekly records began in 2001. Exports climbed to 5.2 million barrels per day, the highest in seven months.

On an annual basis, the U.S. was a net exporter of crude oil in 1943.

Rising shipments highlight how buyers are broadening their search for supply amid shifting price dynamics.

"Atlantic Basin and Asian buyers are reaching further out for available supply," said Janiv Shah, vice president of oil markets at Rystad Energy, noting that regional price differences are offsetting higher shipping costs.

Countries such as Greece have purchased U.S. crude for the first time in recent months, underscoring the shift in trade flows.

Europe accounted for about 2.4 million barrels per day, or 47 percent of U.S. exports last week, according to ship tracking service Kpler. Around 1.49 million barrels per day, or roughly 37 percent, went to Asia, up from 30 percent a year earlier.

Top buyers included the Netherlands, Japan, France, Germany, and South Korea. A tanker carrying 500,000 barrels was also headed to Turkey, potentially marking the first U.S. crude shipment there in at least a year.

At the same time, U.S. imports fell by more than one million barrels per day to 5.3 million barrels per day. The country continues to import crude, however, because many domestic refineries are configured to process heavier grades than the lighter oil produced locally.

The shift has been amplified by widening price gaps between global benchmarks. The premium for Brent crude over U.S. West Texas Intermediate widened to as much as US$20.69 a barrel last month, making U.S. oil more attractive to overseas buyers.

Prices for physical crude cargoes delivered to Europe surged to near $150 a barrel this week, with African grades also hitting record highs, according to traders and LSEG data.

Despite the surge, analysts say U.S. exports are approaching their limits.

"The market is already testing the export ceiling with 5.2 million bpd exported last week. Every incremental barrel from here costs more in freight and logistics than the last one," said Dubai-based oil trader Bekzod Zukhritdinov.

The U.S. has an estimated export capacity of about 6 million barrels per day, constrained by pipeline infrastructure and tanker availability. Exports previously peaked at 5.6 million barrels per day in 2023.

Analysts say additional supply could come from the Strategic Petroleum Reserve, but logistical bottlenecks, including a shortage of tankers and rising freight costs, may limit further gains.

About 80 empty supertankers were heading toward the U.S. Gulf Coast as of April 15 to load crude in the coming weeks, according to Vortexa.

While the current surge underscores the U.S.'s growing role in global energy markets, it also highlights the constraints that could cap its ability to respond to prolonged supply shocks.