U.S. Oil Reserve Hits 42-Year Low as U.S.-Iran Deal Falls Apart

This is a really disappointing analysis. You repeatedly state the depletion of the SPR as something significant, and build a house of cards upon that, without acknowledging that when the SPR was inaugurated in 1983, the USA didn't produce much oil. Nowadays, according to the EIA weekly data, it produces 13.3 Million barrels of oil, daily, and is the world's largest producer.
The USA's real reserves are, largely, in the ground, waiting to be fracked.
The depletion of the SPR is an advantage, in the sense that it is being sold into a shortage, now; and if there is a foreign attempt to bankrupt America's drillers, as was attempted a decade ago, then the USA can set a floor price for domestic production, keep its drillers in business, and replenish the SPR at the floor price it sets. The SPR is no longer an emergency reserve, it is a price buffer.
This flawed analysis has diminished my trust in your analysis of other subjects, where I do not have any obvious insights.

If i was in the iranian government i would be wary of allowing fuel shipments to the US or any allies that host US bases as this fuel could be used if the US decided to launch another bombing campaign. They have aircraft that can travel long distances (eg B52s) and they still have a significant arsenal of heavier bombs.

Good observation about the SPR.

The US sucks, right? We should celebrate their misfortune, not complain about it. When the US perishes, things will be wonderful in the rest of the world.

BELOVE AND DEAR NEWS GIRL !

Why are we worrying about oil reserves we can always steal it from Canada and Venezuela if we want 😂😂😂 diesel or jet fuel 😂😂😂

Time is on the US side. If necessary the US will just dust off the WWII playbook perhaps doing an Hiroshima on Tehran will prod the IRGC to concede.

I am a stock, bond, and futures trader and the "paper" price of oil does not reflect the physical price. In Japan for example, they are paying approximately $113/bbl. for what is called dated delivery blended crude oil. The main inventory of oil is at the Henry Hub in Cushing, OK which will reach its operational limits next week and the SPR or strategic petroleum reserve will reach its operational limits in 2-3 weeks. There is currently NO oil headed for the USA. All the oil tankers that are going through the Strait are headed for Asia. This means we are headed for a physical shortage and while the administration has been able to keep oil prices down in the futures market, when the physical shortage shows up, we will see a spike in oil back to $100 plus/bbl. The first tankers from the Persian Gulf are not expected to reach the USA for 60-90 days assuming a peace deal is reached. Anyway you cut it, higher oil prices are here to stay for much longer than anyone expects.

MAGA pay attention!

Fabulous information 👍

The selling of the strategic reserve of petroleum started during the Biden/Harris regime. A large quantity of high quality petro was sold to China for a low price. That is what created this problem.

Destroyed the world for a small country

Like the new hairstyle. And yes U.S. Gov't keeps making one bad move after another.

Which leaves roughly 12 percent above the 30% that is needed to be held to kept the infrastructure at a safe operating level.

U r awesome

We have more oil than anyone else
- famous last words
🇿🇦

America burns 20.5 million barrels of 🛢️ each day, 700 million barrels puts America on a clock ⏰

Maybe the USA can buy some oil
, China has lots!

Another great incentive to electrify the economy and maximise the use of renewable energy. Trump turns out to be the best gift to clean energy we've had in decades...

I love your work.

I am really enjoying our $3.19 gas in Tennessee. The US is selling oil like crazy all over the
world. The greatest sale of the strategic reserve oil occurred under the Biden Administration.
We buy no oil from Iran.

Oil reserve low in USA is a scam to raise oil price when the Iran war is still on. When the war ends oil price will fall. The world is never short of oil for decades

Thank you for sharing!

No worries... Venezuelan oil is now US oil...

I think people and the markets are overly optimistic about the price of oil. I think the price will inevitably go up from here and stay elevated for a long time.

After 16 weeks of Epic Failure; more than $145 billion to US taxpayers, trillions to the global economy, victory is nowhere in sight for the US and Israeli regimes

M90 methanol Automotive Fuel Alternatives and Organic Fertilizers using Raw Seeage and Solar Stills broke the Oil Industry and Localised the Fuel Supplies Worldwide. Your "Economy" is in the past.

Gas now at about $3.00 and dropping.what up?

Horrible poopy death coming to everyone who uses oil.

you are 6 month short

I remember years ago when diesel surged to $4.89 per gallon in Texas, where fuels are cheaper. I had to start estimating mileage for my work bids.
This will be massive, making that look like nothing. Inflation always lags inputs. We are only just now starting to see the costs finally hit consumers. Buy a good bicycle. A manual drive one, not electric or fuel powered.

Yea okay, then why is the price oil per barrel so lwo.

2 points that deserve attention imo:
1) if the SPR falls below a certain level (very close to where it is now) the physical infrastructure is in danger of collapsing because of the way these storage facilities work
2) before the Iran war and the IEA withdrawal, Washington had been authorising selling off some of the reserves to earn money instead of using federal funds

The MAGA cult are praising Trump for bringing down gas prices, ignoring the fact why it is going down.

This is truly forward-looking

Very FRANK confidence and narration of Lame Duck 🦆 Donald Trump: we are the Largest Producer of Oil on planet earth 🌏, so whether the Strait of Hormuz is OPENED or CLOSED is irrelevant to us! We have the GREATEST Economy in American History. Although the Iranian 🇮🇷 has ALL THE CARDS, I have the HOUSE OF CARDS! 😮

Civilisation was always a facade and colonialism never ended.

Take over Russia…lot of oil.

Lowest point since '82, but we use 4x more today than back then.
I remember waiting in line for 2 hours in Houston TX in '78 just to get 5 gallons. We were rationed.

Drained by Trumps politics

Oil squeeze