(Bloomberg) -- US crude exports set a new record as Europe scrambles to replace Russian oil supplies amid the superpower’s war on Ukraine.

Exports gained 21% to 4.55 million barrels a day during the week ended July 22, according to Energy Information ccAdministration data released Wednesday. Total crude and oil-product shipments also rose to the highest on record. 

Those strong flows are likely to continue in the coming weeks as the spread between the US and global oil benchmarks continue to widen, incentivizing exports. That’s in part due to US emergency crude releases that have added to supplies, while the rest of the world grapples with shortages.

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