The United States Strategic Petroleum Reserve has fallen to its lowest level since 1983, according to a report by Het Financieele Dagblad.
The drawdown marks a significant structural shift in US energy security posture, leaving the government with minimal buffer capacity to intervene in case of acute supply disruptions.
Brent crude fell sharply in recent trading, sliding toward the $68 per barrel level.
The depletion of strategic stocks occurs as crude oil markets face conflicting pressures.
Brent crude fell sharply in recent trading, sliding toward the $68 per barrel level.
The price decline was driven by a surprisingly weak US jobs report, which sparked broader risk-off sentiment and raised concerns about near-term demand growth.
Despite the retreat in benchmark prices, US oil majors are on track to report their strongest quarterly profits in years.