US Strategic Petroleum Reserves Hit Four-Decade Low Amid Iran Tensions

According to the International Desk of Webangah News Agency, U.S. crude oil reserves in the Strategic Petroleum Reserve (SPR) have dropped to their lowest point in more than four decades, falling below 300 million barrels. This development occurs as global oil supplies are reportedly under pressure due to perceived aggression against Iran.

Data released by the U.S. Department of Energy on Monday indicated that the reserve volume decreased by 6.1 million barrels in the past week, reaching 298.7 million barrels. This marks the lowest level for the SPR since January 1983.

In what was described as a largely symbolic and populist move, then-President Donald Trump had previously ordered the release of 172 million barrels of oil in March. This decision followed an incident involving alleged aggression against Iran that reportedly led to insecurity in the vital Strait of Hormuz, causing the most significant disruption to crude oil supply in history.