Jun. 18 at 3:17 PM
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Draining the stockpiles has caused the U.S. Strategic Petroleum Reserve, located in Louisiana and Texas, to fall to its lowest level since 1983, according to Energy Department data issued Monday.
Inventories held at a second critical oil hub in Cushing, Oklahoma, tumbled to just 20 million barrels, according to data released Wednesday by the Energy Information Administration. That brings the country’s largest commercial storage facility to an “operational stress” level, according to Rory Johnston of the research firm Commodity Context.
“Without any immediate relief on the horizon,” this is a “concerning pressure point,” Johnston said.
https://www.nbcnews.com/business/energy/cushing-oil-reserves-stress-iran-war-rcna350536
