US Strategic Petroleum Reserve Falls to Lowest Level Since 1983 Amid Iran Conflict
The US Strategic Petroleum Reserve (SPR) has dropped to 340.3 million barrels, its lowest level since 1983, following extensive releases to mitigate fuel price surges amid the Iran conflict. The reserve has declined by about 75 million barrels, or 18%, since February. Officials and analysts note the releases have helped stabilize markets but warn the reduced stockpile may limit the US's ability to respond to future supply disruptions, including weather-related risks.