Anonymous7 days ago
US commercial crude oil inventories have plunged to approximately 434 million barrels — their lowest level since 2004 — driven by record export demand following the Strait of Hormuz crisis and declining domestic shale production. With the Strategic Petroleum Reserve simultaneously drawn down to 357 million barrels and summer driving season underway, the supply crunch threatens to keep gasoline prices elevated above $4 per gallon and shave an estimated 0.3 percentage points off GDP growth in 2026.