U.S. Strategic Petroleum Reserve crude stocks drop 6.1 million barrels to 298.7 million, lowest since 1983
AI Market Summary
U.S. Strategic Petroleum Reserve inventories fell 6.1 million barrels last week to 298.7 million, the lowest since 1983, after sizable drawdowns authorized in March to offset Iran-war-related disruptions around the Strait of Hormuz. With the SPR already structurally depleted versus pre-2022 levels, reduced emergency buffer capacity heightens sensitivity to further supply shocks, supporting near-term crude risk premia and increasing tail-risk for refined products.
Impact level
● Medium
Affected assets
NCCO1OILWTI2USD/USDT+3.45%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
▲ Bullish
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U.S. crude oil inventories in the Strategic Petroleum Reserve fell to their lowest level in more than four decades after dropping 6.1 million barrels last week to 298.7 million barrels. Since mid-March, SPR stocks have declined by about 116 million barrels. The drawdown follows an authorization by President Donald Trump on March 11 to release up to 172 million barrels in response to disruptions tied to the Iran war that slowed tanker traffic through the Strait of Hormuz.
