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The U.S. oil stockpile is at its lowest level since July 1983, when the country was still just building up its energy supply.
Why it matters: The stockpile, called the U.S. Strategic Petroleum Reserve, played a critical role in keeping a lid on oil and gasoline prices in the Iran war, but it's running low.
Zoom in: Supply ran down through four big oil drawdowns: in March (0.4 million barrels), April (20.3), May (39.4) and so far this month (15.1), according to federal data released Monday.
