The stockpile has shrunk by nearly a third since Washington began releasing crude in March due to the Middle East supply crisis
The US emergency oil stockpile has plunged to its lowest level in nearly 44 years as the US-Israeli war on Iran continues to squeeze global supplies and disrupt shipping through the Strait of Hormuz, according to Department of Energy data. The Strategic Petroleum Reserve (SPR) has shrunk by almost a third since Washington began releasing crude in March.
The reserve dropped to 283.8 million barrels for the week ending September 25, hitting its lowest level since October 1982, according to US government data. That is…
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