Detrick warns oil prices could surge as the U.S. SPR falls to its lowest level since the early 1980s amid the Iran conflict.
Market Strategist Ryan Detrick warns of a potential oil price surge due to the depleting U.S.
Strategic Petroleum Reserve (SPR).
On Thursday, Detrick took to X and noted that the reserves have dropped from 415 million barrels at the start of March to 286 million, the lowest since the early 1980s.
"Tapping into this is a big reason why prices aren't $200/barrel.
As the conflict continues, the reserves just aren't there," Detrick wrote.
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