U.S. Strategic Petroleum Reserve Falls To Lowest Level Since 1983 On 3.7 Million Barrel Draw
The U.S. Strategic Petroleum Reserve’s crude oil inventories fell by approximately 3.7 million barrels last week, leaving total stocks at 307.7 million. This marks the lowest inventory level recorded in the reserve’s history, dating back to 1983.
The weekly draw split between a 2.2 million barrel decline in sweet crude, which dropped to 110.6 million barrels, and a 1.6 million barrel reduction in sour crude, bringing it to 197 million barrels. Market observers expect further inventory releases over the next several weeks before volumes stabilize, with the reserve now approaching the 300 million barrel threshold.
From the sources (10 posts)
@hedgeye🇺🇸 U.S. strategic oil reserve hits lowest level since 1983
@kalshiJUST IN: US strategic oil reserve hits "lowest" level in 40+ years
@staunovoUS SPR crude inventories fell by ~3.7mb w/w to a multi year low of 307.7mb last week #oott Sour down ~1.6mb to 197.0mb Sweet down ~2.2mb to 110.6mb
@oilheadlinenewsUS SPR crude inventories fell by ~3.7mb w/w to a multi year low of 307.7mb last week @staunovo
@macroedgeresUS SPR crude inventories fell by ~3.7mb w/w to a multi year low of 307.7mb last week Nearing sub-300 #MacroEdge
@gasbuddyguySPR falls to another multi-decade low. Releases are likely to continue for the next few weeks before tapering off.
@staunovoRT @GasBuddyGuy: SPR falls to another multi-decade low. Releases are likely to continue for the next few weeks before tapering off.
@tomklozaSPR down to 307.7-million barrels thanks to a 2.2-million barrel draw for sweet crude (110.6m) and a 1.6-million bbl drop in sour (197-million bbl). Cue the "lowest since" headlines.
@financialjuiceStocks of crude oil in the US Strategic Petroleum Reserve fell by about 3.7 mln barrels to 307.7 mln barrels last week, the lowest since 1983.
@firstsquawkUS STRATEGIC PETROLEUM RESERVE STOCKS FALL ~3.7 MLN BARRELS TO 307.7 MLN BARRELS, LOWEST SINCE 1983