U.S. Strategic Petroleum Reserve drops to 40‑year low as Iran deal looms
The SPR fell to 340.3 million barrels, its lowest since 1983, after a week‑long draw of 9 million barrels. The depletion comes just as the U.S. and Iran prepare to sign a deal reopening the Strait of Hormuz, raising concerns that inventories will stay critically low and keep oil prices pressured.