U.S. Strategic Oil Reserve Falls Below 300 Million Barrels Amid Iran War
Officials say the reserve has dropped to 293.4 million barrels as the administration weighs how far cavern storage can safely be drawn down.
- On Monday, Energy Department data showed Strategic Petroleum Reserve inventories dropped below 300 million barrels for the first time since the early 1980s, driven by ongoing withdrawals for the war with Iran.
- Petroleum engineering professor Siddharth Misra of Texas A&M University warned that repeated rapid drawdowns wash away salt walls, increasing the geological risk of a structural cave-in within the 60 salt caverns across Texas and Louisiana.
- American drivers face unprecedented gas prices as the AAA National Average sits at $4.07, while Republican lawmakers previously cited cavern health concerns when Biden released 180 million barrels following Russia's invasion of Ukraine in 2022.
- The Department rejected claims that the facilities face risk, as Energy Department spokesman Ben Dietderich asserted that Trump was "responsibly managing the SPR as the critical national security asset it was designed to be."
- Market analysts at Rapidan Energy estimated the functional minimum sits around 170 million barrels, after which pumping infrastructure limitations argue against further draws and threaten long-term reserve viability.
20 Articles
20 Articles
Trump's Oil Reserve Releases Push US Stockpile to Its Lowest Point in Over Four Decades
The United States Strategic Petroleum Reserve has fallen to 293.4 million barrels, its lowest level since December 1982, after a 5.3 million‑barrel drop last week as releases authorised by President Donald Trump continued to run down emergency crude stocks. The continued decline stems from an emergency drawdown programme initiated in March to cushion global supply shocks caused by escalating hostilities with Iran and restricted shipments along t…
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Calgary's BusinessTrump’s Iran blockade is sabotaging his push for cheap gas
Washington is drawing down its emergency oil reserves as the Strait of Hormuz blockade continues to keep pressure on oil prices Keeping gasoline prices low is now the United States’ “goal No. 1,” Vice President JD Vance says. But the Trump administration is pursuing an Iran strategy that is helping keep oil prices high. As the war with Iran drags on and the Strait of Hormuz remains blocked, Washington wants to intensify military and economic pre…
U.S. strategic reserves are getting so low it threatens damaging the 60 underground salt caverns storing American oil
“We should be highly concerned about the integrity of the caverns anytime crude inventories drop below 300 million barrels,” one petroleum engineering professor warned.
Shafaq News - Follow-up: Reuters reported on Monday that crude oil inventories in the US Strategic Petroleum Reserve fell by approximately 5.3 million barrels to 293.4 million barrels last week, their lowest level since December 1982. According to Reuters, the release comes as part of a US agreement to release 172 million barrels from the reserve to mitigate the potential consequences of a war with Iran. Meanwhile, energy experts warned that the…
U.S. Petroleum Reserve Drained to 40‑Year Low, Storage Caverns at Risk.
The United States’ Strategic Petroleum Reserve has been depleted over the course of the Iran war, raising concerns about sustainability and potential damage to the salt caverns storing it.PULSE POINTS WHAT HAPPENED: The United States’ Strategic Petroleum Reserve (SPR) has reached its lowest level in 40 years. DETAIL: On Monday, it was revealed that the U.S. SPR had dropped below 300 million barrels due to ongoing withdrawals for the Iran war, wh…
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