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US oil reserves hit historic lows
The US Strategic Petroleum Reserve has fallen to its lowest level since 1983, with 340.3 million barrels remaining, due to the ongoing release of oil to address high energy prices amid the war with Iran. Last week, an additional 8.9 million barrels were released, contributing to an 18% reduction since February. Officials warn that levels are approaching a critical minimum, and continued releases could impact future emergency supply, especially during hurricane season.
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