According to the Financial Times, as Asian clients scramble to find alternatives for Middle Eastern oil supplies disrupted by the Iran war, US crude oil exports are expected to reach 5.2 million barrels per day in April, an increase of nearly one-third from 3.9 million barrels per day in March. Demand from Asian clients surged by 82% to 2.5 million barrels per day. Data from oil research firm Kpler shows that 68 empty oil tankers are currently heading to the US, compared to 24 in the week before the war broke out on February 28 and an average of 27 last year. The US and Iran announced a two-week ceasefire on Tuesday, but after Israel attacked Lebanon, Iran stated on Wednesday that it is closing the Strait of Hormuz. Weeks of blockade earlier had driven US oil prices up by over 50%. WTI crude oil hit a four-year high of over $110 per barrel earlier this week and remains more than 40% higher than pre-war levels. The Trump administration has announced the release of over 170 million barrels of oil from the Strategic Petroleum Reserve to control fuel prices, but US gasoline prices have surpassed $4 per gallon for the first time in four years.