The current stock level is 6% below the five-year average typical for this time of the year

The US Strategic Petroleum Reserve fell to 316.5 million barrels, the lowest since 1983, after a 98.9 million barrel drawdown since February 2026.

EIA reports a 1.7 million barrel crude draw for the week ending July 10 as Brent and WTI slip despite rising Iran-US tensions.

The current stock level is 6% below the five-year average typical for this time of the year