US Strategic Petroleum Reserve hits its lowest level since 1983 as emergency oil releases continue amid the Iran conflict and energy supply concerns.

The US Strategic Petroleum Reserve has dropped to 349.2 million barrels, a 43-year low, as Trump drains reserves to fight gas prices amid the Iran crisis.

The reserve was created in 1975 in the wake of the Arab oil embargo, with the intention of protecting the markets and consumers from severe supply shocks.

America's emergency oil reserve has fallen to its lowest point since 1983. This significant drop follows extensive releases to manage economic impacts from global conflicts.…