The Donald Trump administration rejected restrictions on fuel exports, instead committing to record U.S. energy production as Brent crude prices surpassed $107 per barrel. U.S. Deputy Secretary of Energy James Danly said the administration’s energy dominance agenda centers on increasing domestic oil and gas output for both domestic consumption and exports. In 2025, the administration authorized more than 17 billion cubic feet per day of additional liquefied natural gas (LNG) exports to support global allies. The policy push comes as the ongoing Iran war and disrupted Strait of Hormuz flows caused Middle East oil production shut-ins of 6.7 million barrels per day in August, according to the EIA’s Short-Term Energy Outlook. Global oil stockpiles have fallen by 400 million barrels this year, while the Strategic Petroleum Reserve (SPR) declined from 415 million barrels in March to 286 million barrels, its lowest level since the early 1980s. Brent crude futures reached $108.16 per barrel, while WTI traded at $103.86. Oil funds rose in Tuesday premarket trading, even as major U.S. equity trackers fell.