US oil reserves are running dangerously low:
The Strategic Petroleum Reserve (SPR) fell -6.1 million barrels last week, to 298.7 million barrels, dropping below 300 million for the first time since January 1983.
This marks the largest weekly drawdown in nearly 2 months and brings the SPR to its lowest level in more than 43 years.
The latest drawdown also accelerated the recent depletion, after the SPR fell by just -2.8 million barrels the previous week.
Since the start of the Iran war, the US has been drawing heavily on its strategic reserves to help offset disruptions to global oil supplies and prevent further pressure on crude prices.
The SPR is now approaching the estimated 250-300 million barrel operational minimum, below which extracting oil becomes increasingly difficult.
At the current pace of withdrawals, the reserve could reach that range within weeks.
The US is running out of strategic oil to release.

The Strategic Petroleum Reserve (SPR) fell -6.1 million barrels last week, to 298.7 million barrels, dropping below 300 million for the first time since January 1983.
This marks the largest weekly drawdown in nearly 2 months and brings the SPR to its lowest level in more than 43 years.
The latest drawdown also accelerated the recent depletion, after the SPR fell by just -2.8 million barrels the previous week.
Since the start of the Iran war, the US has been drawing heavily on its strategic reserves to help offset disruptions to global oil supplies and prevent further pressure on crude prices.
The SPR is now approaching the estimated 250-300 million barrel operational minimum, below which extracting oil becomes increasingly difficult.
At the current pace of withdrawals, the reserve could reach that range within weeks.
The US is running out of strategic oil to release.




