WASHINGTON — U.S. crude oil stocks in the Strategic Petroleum Reserve fell below 300 million barrels last week, reaching their lowest level since January 1983, as the United States continued drawing on the emergency stockpile amid global supply disruptions.
The reserve fell by about 6.1 million barrels to 298.7 million barrels, according to U.S. Department of Energy data reported on Monday.
The decline comes as oil markets remain focused on disruptions linked to the conflict involving Iran and uncertainty over the reopening of the Strait of Hormuz, a major route for global oil shipments. The United States has been releasing crude from the reserve to help offset supply pressures.
The Strategic Petroleum Reserve is the U.S. government's emergency crude stockpile, maintained to respond to severe disruptions in petroleum supplies. The reserve held more than 413 million barrels at the start of 2026, according to U.S. Energy Information Administration data.
The latest decline puts inventories more than 100 million barrels below levels recorded earlier in the year. The Department of Energy's latest reported figure is 298.7 million barrels.
Oil prices rose sharply on Monday as hopes for an agreement easing restrictions around the Strait of Hormuz weakened, with Brent crude trading above $87 a barrel and U.S. West Texas Intermediate above $81.
The reserve level and oil-market conditions remain subject to further changes as the United States and other countries respond to ongoing supply disruptions.
