The U.S. has been a net exporter of petroleum products for a consecutive four weeks on a four-week average basis, per Energy Information Administration data released Wednesday.

Why it matters: EIA analyst Mason Hamilton noted via Twitter that it's the first time the U.S. has been a net exporter by that metric. It has previously happened for shorter stretches.

  • "The era of U.S. net petroleum exports HAS BEGUN! (or at least is highly [likely] to)," he noted on his personal account.

The big picture: The U.S. emergence as a net exporter of petroleum products — the combo of crude oil, gasoline, natural gas plant liquids, diesel and more — on an ongoing basis has been forecast for some time.

  • On some level, it's an arbitrary metric, because the U.S. still imports millions of barrels of crude oil per day — but the amounts have fallen as U.S. production has surged over the last decade.

The bottom line: While the U.S. has long shipped lots of products like gasoline abroad, declining crude oil imports and rising crude exports have enabled the inflection point.

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U.S. daily coronavirus cases top 50,000 for first time

A medical technologist processes test samples for the coronavirus at a lab in Tampa, Florida, on June 25. Photo: Octavio Jones/Getty Images

A record 50,655 tested positive for the novel coronavirus in the United States on Wednesday, Johns Hopkins data shows.

Driving the news: The pandemic is accelerating across the U.S., with the Sun Belt being hit particularly hard. Daily coronavirus case records were reported on Wednesday in Texas (8,076), Georgia (2,946), North Carolina (1,843) and Tennessee (1,806).

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

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  5. States: Georgia and Arizona report record new coronavirus cases — California shuts down bars and indoor dining for most residents.
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Democratic presidential candidate and former Vice President Joe Biden at Philadelphia City Hall in Pennsylvania in June. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden and the Democratic Party raised $141 million in June, his campaign announced on Wednesday night.

Why it matters: It's the most the presumptive Democratic presidential nominee has raised in a month. It's also more than the record $131 million President Trump's re-election campaign and the Republican National Committee raised last month.