US Oil Reserves Hit Lowest Level Since 1983 Amid Iran Tensions

U.S. commercial crude oil inventories fell to their lowest point since 1983, according to the Energy Information Administration’s latest weekly report. The decline, which brings the stockpile to roughly 450 million barrels, reflects a sustained drawdown over the past several weeks as refiners increase runs and imports slow amid heightened geopolitical risk.

The inventory drop coincides with escalating tensions between the United States and Iran, where recent diplomatic disputes have raised concerns about potential disruptions to Middle‑East oil flows. At the same time, global supply is constrained by OPEC+ production cuts and a series of refinery outages in Europe and Asia, factors that have limited the availability of crude on the market and contributed to the tightening of U.S. stocks.

Analysts note that the combination of a historically low reserve level and the current geopolitical environment could pressure gasoline and diesel prices domestically. Market participants will be watching upcoming policy decisions and any further developments in the Iran‑U.S. relationship for signs of additional supply strain.