Oil climbs as Iran deal stalls and SPR sinks to multi-decade lows
TL;DR Summary
Oil prices jumped after hopes for a US–Iran deal faded and the DOE reported the Strategic Petroleum Reserve at about 298.7 million barrels (the lowest since 1983), with Brent above $85 and US crude around $80 as supply concerns and the Strait of Hormuz persisted; Trump signaled a semi‑negotiating stance, underscoring the market’s tightness.
- Oil jumps as US-Iran deal hopes fade, Strategic Petroleum Reserve falls below 300 million barrels Yahoo Finance
- Oil in U.S. Strategic Petroleum Reserve falls below 300 million barrels, lowest since 1983 CNBC
- Oil in US Strategic Petroleum Reserve falls to lowest level since 1983 Fox Business
- US oil jumps above $80 per barrel as Strategic Petroleum Reserve reaches lowest level since 1983 New York Post
- America's oil reserves are the lowest in 43 years Business Insider
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