In a shocking turn of events, U.S. oil exports have plummeted by a staggering 94% in just ten trading sessions, sending shockwaves through the global energy market. As President Trump’s controversial Executive Order 14,245 took effect, traders from Houston to Singapore were left reeling, and the ramifications are being felt from refinery workers in Louisiana to retirees relying on oil royalties. The directive imposes a hefty 25% tariff on nations importing Venezuelan crude, triggering an immediate sell-off that saw West Texas Intermediate crude dip below the critical $60 mark, closing at $59.58.

The fallout began just two weeks earlier when the White House declared “Liberation Day,” igniting a firestorm of panic among energy traders. In a matter of days, crude exports collapsed by 637,000 barrels per day, and the docks at Corpus Christi fell silent as tankers idled, unable to move. The ripple effect has been swift and brutal: shale contractors are slashing day rates, while workers in Midland face layoffs as the industry grapples with a sudden cash flow crisis.

As OPEC Plus ramps up production to reclaim lost market share, U.S. consumers are already feeling the pinch. Despite the drop in crude prices, gasoline at the pump has surged by over 10 cents, leaving drivers frustrated and wallets lighter. Economists warn that every dime added to gas prices siphons billions from discretionary spending, threatening retail jobs and local economies.

The situation is dire, with analysts forecasting that sustained prices below $60 could jeopardize future U.S. output. The energy sector is teetering on the brink, and as global trade policies grow erratic, the stakes have never been higher. With retaliatory tariffs looming from Beijing and Brussels, the potential for a full-blown energy crisis inches closer.

Stay tuned as we continue to track this unfolding disaster—what started as a political maneuver could lead to a national economic catastrophe.