US Strategic Petroleum Reserves Plummet to 40-Year Low Amid Ongoing War in Iran

The US Strategic Petroleum Reserve has reached a 40-year low following the ongoing war in Iran. The reserves, which once held over 700 million barrels of oil, have decreased to around 307 million barrels.

Experts warn that continued withdrawals at an unprecedented rate will damage the salt caverns where the reserves are stored and require government approval or emergency authorization to withdraw more.

The rapid depletion of the reserve has led to a surge in gasoline prices, with the average price per gallon reaching between $4.07 and $4.56 nationwide, and exceeding $7 in some states.