Strengthening U.S. Crude Markets Put Export Cargoes in Doubt

The U.S. oil market is showing clear signs of tightening on the back of strengthening demand, raising a question about whether the nation’s booming crude exports could slow.

Two key measures of U.S. market strength rallied to the highest levels in months this week, suggesting physical supply is becoming more constrained with traders willing to pay premiums to secure more-immediate barrels.

That in turn is helping to make West Texas Intermediate more expensive relative to the global oil price benchmark Brent. Several U.S. oil traders said exports could dip to all destinations -- and in particular to Europe -- ...