US oil stockpiles hit a 41-year low, indicating supply constraints. Crude oil reaching a new all-time high by December 31 at 13.5% YES.

The U.S.’s emergency supply of crude oil has fallen to its lowest level in decades as Trump moves to release 172 million barrels. Read here

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.