THENATIONALPULSE (Pulse Wires) - U.S. Petroleum Reserve Drained to 40‑Year Low, Storage Caverns at Risk.
The United States' Strategic Petroleum Reserve (SPR) has reached its lowest level in 40 years.
The United States’ Strategic Petroleum Reserve has been depleted over the course of the Iran war, raising concerns about sustainability and potential damage to the salt caverns storing it. PULSE POINTS WHAT HAPPENED: The United States’ Strategic Petroleum Reserve (SPR) has reached its lowest level in 40 years. DETAIL: On Monday, it was revealed that the U.S. SPR had dropped below 300 million barrels due to ongoing withdrawals for the Iran war, which began in late February. The depletion of the country’s SPR has contributed to record-high gas prices for mid-August, with the national average reaching $4.07 per gallon, according to AAA Gas Prices. The SPR was initially designed to handle five full drawdowns over its lifespan, but it…Open