US Strategic Petroleum Reserve at low levels
The gist
US Strategic Petroleum Reserve crude stocks fell to 284.6 million barrels, the lowest since October 1982.
Washington now has less room to blunt gasoline prices if supply shocks worsen.
How it unfolded
- late February 2026The U.S. and Israel went to war with Iran, causing an oil shipping logjam; the reserve then held around 415 million barrels.
- Sep 21, 2026Crude oil stocks in the Strategic Petroleum Reserve fell to 284.6 million barrels last week, the lowest level since October 1982, according to Department of Energy data.
- Sep 25, 2026Reports describe the reserve as at a 43-year low, with the U.S. having tapped it to help drive down rising gasoline prices after the war with Iran.