US crude oil inventories fell 8 million barrels to 434 million, pushing combined reserves to their lowest in over 20 years amid geopolitical tensions and

US crude stockpiles hit their lowest level since 2004 amid Iran tensions. Crude oil reaching a new all-time high by December 31 at 24.5% YES.

US commercial crude oil inventories dropped 8 million barrels to 434M, hitting a 20-year low as export demand and refinery activity tighten supply.