🚨🇺🇸🇮🇷 America's emergency oil reserve just hit its lowest level since 1982 as Hormuz runs at a third of normal The Strategic Petroleum Reserve is down to 283.8 million barrels from 406 million a year ago, drained by the 172 million barrel release ordered in March, and that drain is a big reason Brent has stayed under $110 with the strait mostly shut. Most of it comes back, since the barrels went out as loans that companies led by Shell, Trafigura and Marathon must repay with at least 18% more crude by September 2028. The catch is the cushion runs thin just as renewed bombing is reportedly on the table after the midterms... maybe even BEFORE, and a second round of war with the tank this low hits gas pumps fast. Source: EIA, OilPrice, CIG onTG / Writer: Daniel