The United States Strategic Petroleum Reserve has fallen to 293.4 million barrels, its lowest level since December 1982, after a 5.3 million‑barrel drop last week as releases authorised by President Donald Trump continued to run down emergency crude stocks.
The continued decline stems from an emergency drawdown programme initiated in March to cushion global supply shocks caused by escalating hostilities with Iran and restricted shipments along the Strait of Hormuz.
