US oil reserve hits 44-year-low amid Iran war, global energy shortage
The reserve fell more than 3 million barrels as the government kept releasing oil to offset war-related supply disruptions, EIA data showed.
- The U.S. Strategic Petroleum Reserve fell by 3.1 million barrels in the week ending August 28 to 286.6 million barrels, marking its lowest level since 1982, according to the Department of Energy.
- Since fighting began in late February, the U.S. has released about 128 million barrels of oil to address global supply shocks amid the Iran conflict, significantly depleting emergency reserves.
- Experts warn that reserves falling below 300 million barrels create structural risks, as salt caverns require specific water volumes to maintain integrity and prevent damage to processing infrastructure.
- Gasoline prices have soared above $4 a gallon, fueling inflation and market volatility as the U.S. faces potential supply crunches ahead of the midterm elections.
- President Donald Trump's plan to refill the reserve with Venezuelan crude faces significant infrastructure and execution challenges, as heavy oil requires years to adapt for storage designed for lighter crude.
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46 Articles
US oil reserve hits 44-year-low amid Iran war, global energy shortage - Regional Media News
(NEW YORK) - The U.S. Strategic Petroleum Reserve has dropped to its lowest level since 1982, Department of Energy data this week showed, revealing the continued drawdown of emergency oil as the nation weathers a global energy shortage. The reserve shrank by more than 3 [...]
America Tapped Its Emergency Oil Reserve Just Four Times Before This War, and Never Like This: The Biggest Release in Its History
The Strategic Petroleum Reserve fell by more than three million barrels last week to its lowest level in more than four decades. U.S.-Iran strikes pushed Brent to its highest since late July, Saudi Arabia blamed Iran for the attack on its tanker Sidr, and Wright said Monday's Hormuz flows were the highest since the war.
Commercial oil reserves fell 4.5 million barrels while refinery activity reached record levels driven by geopolitical tensions.
The oil stocks fell to 4.45 million barrels, to 424,460 million, in the week closed last Friday (28), reported the Department of Energy (DoE) of the United States, recently. The result represented a larger drop than expected by a group of analysts, which was 300 thousand. The gasoline stocks fell to 1,173 million barrels last week, to 205,669 million barrels, before expecting a fall of 1.7 million. Distillate stocks rose to 104,187 million barre…
EIA Data Shows U.S. Crude Inventories Fall 4.5 Million Barrels as Demand Slumps
Commercial crude oil inventories in the United States dropped by 4.5 million barrels for the week ending August 28, according to the U.S. Energy Information Administration (EIA). The drawdown brings total commercial stockpiles to 424.5 million barrels, a level that sits approximately 1% above the five-year seasonal average. The EIA figures followed data from the […]
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