US oil prices rise as Strategic Petroleum Reserve falls to lowest level since 1983 amid Iran tensions
Brent crude rose sharply on Wednesday, reaching its highest level since June 19 as renewed tensions between the United States and Iran fed concerns about global oil supply. The benchmark settled at $78.02 a barrel, up 5.2% from the previous day. At the same time, the US Strategic Petroleum Reserve fell to its lowest level since 1983, underscoring how market anxiety and official stockpile management are moving together.The Department of Energy said the reserve declined by 6.2 million barrels in the week ending July 3, leaving it at 319.5 million barrels. That is the lowest level since the Reagan administration,... [Continue Reading]
360LiveNews | 09 Jul 2026 21:30 LONDON
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