Oil in U.S. Strategic Petroleum Reserve falls below 300 million barrels, lowest since 1983
Department of Energy data show the reserve fell 6.1 million barrels in a week as restricted traffic through the Strait of Hormuz kept supply pressures high.
- The Strategic Petroleum Reserve fell below 300 million barrels last week, marking its lowest level since January 1983, according to Department of Energy data released Monday.
- Traffic through the Strait of Hormuz has slowed to a trickle, with only two vessels transiting last Wednesday compared to 130–140 daily before the war, forcing Washington to tap reserves.
- The Trump administration ordered a 172 million-barrel release in March, yet stocks drain toward the 70 million-barrel operational minimum where the SPR faces critical pumping difficulties.
- President Donald Trump told Axios on Sunday that he is "low-keying" negotiations, describing the standoff as a "chess game" while monitoring Iran's economic difficulties.
- The Supreme National Security Council's secretary, Mohammad Bagher Zolghadr, demanded an end to Washington's "aggressive behavior" and the lifting of "unjust and illegal" sanctions to reopen the waterway.
60 Articles
60 Articles
Crude oil imports to the United States reached their highest level last week since November 2024, which led to a marked increase in commercial reserves, according to data from the Energy Information Agency (EIA) published on Wednesday. Imports in peaks During the week ending August 7, the United States imported more than 7.3 million barrels of crude oil per day. Shipments from Venezuela reached their largest volume since 2017, in a context of re…
The oil stocks rose by 17,423 million barrels, to 424,410 million barrels, in the week closed on Friday (7), reported the Department of Energy (DoE) of the United States, on Wednesday (12). The result contradicted the average estimate of a group of analysts, which was down by 600 thousand. Already the gasoline stocks fell by 968,000 barrels last week, to 208,690 million barrels, before the expectation of a decrease of 1.3 million. The distilled …
America’s emergency oil vault: A history of the Strategic Petroleum Reserve
The U.S. Strategic Petroleum Reserve, the world’s largest government-owned emergency oil stockpile, fell below 300 million barrels on Monday — a milestone that underscores just how dramatically America has drawn on its most critical energy insurance policy in recent years …
US Crude Oil Inventories See Surprise Build: API
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 9.072 million barrels in the week ending August 7, compared to analyst expectations for a 500,000-barrel draw. In the week prior, U.S. crude oil inventories rose by 2.69 million barrels. The larger-than-expected build was driven in part by higher crude imports relative to exports during the week. Commercial crude oil inventories excluding the…
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