US oil reserves at 1982 lows

U.S. strategic oil reserves have fallen to their lowest level since 1982, reaching 284.6 million barrels after a withdrawal of 172 million barrels aimed at calming prices. Oil prices have also declined to around $100 per barrel amid expectations of diplomatic efforts to resolve tensions with Iran. Additionally, Houthi attacks on Saudi oil facilities and escalating regional tensions have impacted the oil market, with forecasts of increased Saudi exports through the Strait of Hormuz to compensate for the halted shipments. These developments are heightening geopolitical tensions and reducing global reserves, while investors await the outcomes of upcoming United Nations meetings.

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