US Interior Secretary Doug Burgum said on March 18, 2026, that demand for American crude oil and liquefied natural gas (LNG) has risen. The closure of the Strait of Hormuz amid the military conflict in Iran has forced foreign importers to seek alternative sources of supply.

According to Bloomberg, the strongest interest in US resources is coming from Asia‑Pacific countries. “Japan and regional partners have stepped up requests to purchase crude from Alaska’s fields to diversify risk,” Burgum said.

The military operation has caused acute shortages of gasoline and household gas in India and Bangladesh. Against the backdrop of severe shipment disruptions through the strait, US energy firms are seeing an influx of export orders from South Asian states and other market participants.

Despite the benefits for the upstream sector, the situation has complicated operations at US refineries. Rising production costs have set the stage for a sharp increase in gasoline prices in the United States, industry representatives earlier notified President Donald Trump.