Crude stocks in US strategic reserve fall 3 million barrels to lowest level since 1983
(Stock image by anatoliy_gleb.)
Stocks of crude oil in the US Strategic Petroleum Reserve fell by about 3 million barrels last week to 316.5 million barrels, the lowest level since April 1983, according to data from the Department of Energy.
The drawdowns are a part of a US agreement to release 172 million barrels from the facility. Since the US-Israeli war on Iran began at the end of February, SPR inventories have fallen by 98.9 million barrels as of July 10.
Overall USinventories, including commercial and SPR stocks, have fallen by 123.9 million barrels to 730.8 million barrels as of July 3, the lowest since 1984. The latest data to the end of last week is expected on Wednesday.
(Reporting by Arathy Somasekhar in Houston; Editing by David Gregorio)
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