Iran War Drains US Oil Reserves (opens in new tab)

(click to enlarge) The U.S. Strategic Petroleum Reserve remains one of Washington’s most important tools for managing energy-market disruptions, but the Iran war has exposed both its value and its limitations. Following years of drawdowns, the reserve stands at a historically low level, leaving policymakers with a smaller cushion than in past crises. Though emergency releases have helped offset supply losses and calm markets during disruptions to shipping through the Strait of Hormuz, the SPR...