US Oil Stash Depletion Exacerbates Iran War Jitters

As the US-Israeli war with Iran enters its sixth month, Washington's efforts to calm jittery oil markets may be hindered by the depletion of the Strategic Petroleum Reserve (SPR) over the past five years.

The reserve, which was drained by US presidents, has lost potency as a tool for stabilizing global oil prices. The SPR is now at its lowest level since 1984.

According to Reuters, six months into the conflict, Washington's ability to intervene in oil markets may be compromised due to the reduced capacity of the reserve.

The depletion of the SPR has significant implications for US energy security and global oil markets. The reserve was designed to provide a cushion against supply disruptions, but its diminished potency raises concerns about the country's preparedness for future crises.