US crude oil reserves have declined to their lowest level in nearly 45 years amid rising tensions with Iran, raising fresh concerns over the country’s energy security.
According to a Bank of America chart, the United States now holds the equivalent of around 43 days of oil supply, the lowest level recorded since July 1983.
Latest data from the US Energy Information Administration indicates that both commercial crude inventories and the Strategic Petroleum Reserve remain under sustained pressure.
Commercial crude oil stocks stood at approximately 409.7 million barrels as of July 10, around 6 percent below the five-year average.
Meanwhile, the Strategic Petroleum Reserve fell to 316.5 million barrels by July 18, its lowest level since April 1983.
Combined commercial and strategic crude oil reserves are estimated at around 730.8 million barrels, placing total US inventories among their lowest levels in four decades.
The decline comes as tensions with Iran continue to create uncertainty in global energy markets and increase pressure on international oil prices.
