US Strategic Petroleum Reserve just dropped below 290 million barrels for the first time since 1982.
Down another 3.7 million barrels last week to 289.7 million.
That's a 40+ year low. We've drained the emergency tank.
This matters because it limits Washington's ability to cushion oil price shocks. If crude spikes again, there's less room to flood the market and calm things down.
We sold a ton of reserves in 2022 to fight inflation when oil hit $120. Now we're sitting on the lowest stockpile in four decades, and refilling at these prices isn't cheap.
Keep an eye on oil. Any geopolitical flare-up or supply disruption could hit harder than usual.
Down another 3.7 million barrels last week to 289.7 million.
That's a 40+ year low. We've drained the emergency tank.
This matters because it limits Washington's ability to cushion oil price shocks. If crude spikes again, there's less room to flood the market and calm things down.
We sold a ton of reserves in 2022 to fight inflation when oil hit $120. Now we're sitting on the lowest stockpile in four decades, and refilling at these prices isn't cheap.
Keep an eye on oil. Any geopolitical flare-up or supply disruption could hit harder than usual.