US strategic oil reserve falls to 1983 low

Shafaq News

Stocks of crude ​oil in the U.S. ‌Strategic Petroleum Reserve fell by about 3 million barrels last week to 316.5 ​million barrels, the lowest level ​since April 1983, according to ⁠data from the Department ​of Energy.

The drawdowns are a part ​of a U.S. agreement to release 172 million barrels from the facility. ​Since the U.S.-Israeli war on ​Iran began at the end of February, SPR ‌inventories ⁠have fallen by 98.9 million barrels as of July 10.

Overall U.S. inventories, including commercial and ​SPR ​stocks, have ⁠fallen by 123.9 million barrels to 730.8 ​million barrels as of ​July ⁠3, the lowest since 1984. The latest data to the ⁠end ​of last week is ​expected on Wednesday.

(Reuters)

Only the headline is edited by Shafaq News Agency.