US imports of Saudi crude fall to zero for first time since 1985 amid Iran conflict

US imports of Saudi crude oil fell to zero in July for the first time in a full month since 1985, according to preliminary data from the US Department of Energy. The decline comes after months of disruption to Saudi oil exports caused by the conflict between the United States and Iran, which disrupted crude flows through the Gulf and led to the closure of the Strait of Hormuz. The disruption forced US refineries to seek alternative sources of supply. The data showed that Saudi crude shipments to the United States stopped completely in July, compared with the beginning of the year when US refineries were importing more than 800,000 barrels a day of Saudi crude. Against this backdrop, US […]