⚡ JUST IN !!! - US STRATEGIC PETROLEUM RESERVE DROPS BELOW 300 MILLION BARRELS, HITTING LOWEST LEVEL SINCE 1983 🛢️
Record Reserve Depletion: The US Strategic Petroleum Reserve (SPR) saw a reduction of 6.1 million barrels, bringing total reserves down to 298.7 million barrels — marking the lowest level since 1983 compared to roughly 415 million barrels prior to the conflict.
Energy Mitigation Measures: Amid global supply disruptions from US-Iran tensions and constrained flows through the Strait of Hormuz, President Trump extended the Jones Act waiver for 90 days to facilitate domestic energy shipping while narrowing its scope and requiring Pentagon case-by-case reviews.
Infrastructure and Extraction Challenges: The GAO also warned of degrading infrastructure alongside approximately 103 million barrels currently trapped and unextractable, posing a major hurdle for shock response capabilities ahead of the November midterm elections.
The depletion of the strategic energy cushion continues to challenge US oil price stabilization efforts and long-term energy security. 📉🇺🇸
$CL $BZ $NATGAS
Record Reserve Depletion: The US Strategic Petroleum Reserve (SPR) saw a reduction of 6.1 million barrels, bringing total reserves down to 298.7 million barrels — marking the lowest level since 1983 compared to roughly 415 million barrels prior to the conflict.
Energy Mitigation Measures: Amid global supply disruptions from US-Iran tensions and constrained flows through the Strait of Hormuz, President Trump extended the Jones Act waiver for 90 days to facilitate domestic energy shipping while narrowing its scope and requiring Pentagon case-by-case reviews.
Infrastructure and Extraction Challenges: The GAO also warned of degrading infrastructure alongside approximately 103 million barrels currently trapped and unextractable, posing a major hurdle for shock response capabilities ahead of the November midterm elections.
The depletion of the strategic energy cushion continues to challenge US oil price stabilization efforts and long-term energy security. 📉🇺🇸
$CL $BZ $NATGAS