66.2 million barrels drained from the SPR since the Iran 'mini-war' started (16% of the pre-war total)

Global oil inventories are being depleted at a record pace, as governments draw down strategic reserves and stored crude to offset lost supply, while U.S. fuel stocks have fallen…

66.2 million barrels drained from the SPR since the Iran 'mini-war' started (16% of the pre-war total)

Renewed hostilities threaten to extend the near-total closure of the Strait, which has choked off supplies of crude, fuels and natural gas since the start of the war in late…

The US Strategic Petroleum Reserve fell to 349.2 million barrels amid the global energy shock caused by the war in Iran.

The country still has hundreds of millions of barrels left. But inventories can only get so low before the supply chain starts to break down.

WTI crude fell sharply during the week as traders scaled back expectations of a major U.S.-Iran escalation, outweighing support from a large drawdown in U.S. oil inventories.