US Strategic Petroleum Reserve Hits Lowest Level Since 1983
The United States’ Strategic Petroleum Reserve (SPR) experienced an unprecedented decline of approximately 9.1 million barrels last week, plummeting to its lowest point since 1983, a move reportedly linked to escalating tensions with Iran affecting the Strait of Hormuz.
According to the International Desk of Webangah News Agency, the United States’ Strategic Petroleum Reserve (SPR) has seen an unprecedented drop, with crude oil inventories decreasing by approximately 9.1 million barrels in the past week. This substantial reduction has brought the total reserves down to 331.2 million barrels, marking the lowest level recorded since 1983.
This significant drawdown in the SPR occurred in the wake of heightened tensions involving the United States and Iran, which have reportedly contributed to insecurities within the vital Strait of Hormuz shipping lane.
© Webangah News, Mehr News Agency, Financial Times
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