Aug. 4 at 11:10 AM
$MXC $EONR AI Overview The U.S. Strategic Petroleum Reserve (SPR) has dropped to roughly 308–311 million barrels—its lowest level in over 40 years (since 1983)—due to massive emergency releases authorized by recent administrations to counter oil price shocks from the Russia-Ukraine war and the conflict with Iran.Why Reserves Are DrainingGeopolitical Crises: Major drawdowns were triggered to stabilize global markets and domestic gasoline prices following supply disruptions, including Russia's invasion of Ukraine and the ongoing conflict involving Iran and the closure of the Strait of Hormuz.Infrastructure Strain: The 60 aging underground salt caverns in Texas and Louisiana used for storage are facing mechanical wear, maintenance backlogs, and operational limits that restrict how fast they can safely draw down or refill.
