US Strategic Petroleum Reserve falls to 304.81 million barrels as the Hormuz closure fuels energy risks, higher prices and global supply concerns.
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US Strategic Petroleum Reserve Falls to 304.81 Million Barrels
The US Strategic Petroleum Reserve has fallen to 304.81 million barrels, its lowest level since March 1983, after President Donald Trump ordered the release of crude oil to contain rising energy prices linked to the closure of the Strait of Hormuz.
The decline has raised concerns about Washington’s ability to respond to a prolonged energy crisis. The reserve is the United States’ main emergency oil stockpile and is intended to provide supplies during major disruptions, natural disasters or geopolitical crises.
According to data from the US Department of Energy and Bank of America Global Research, current inventories would cover approximately 43 days of supply. The figure represents a 0.92 percent decline from the 307.65 million barrels recorded the previous week.
Compared with the same period last year, the stockpile has dropped by 24.32 percent, falling from 402.74 million barrels. The reduction reflects an accelerated release of crude at a time when global markets are facing a major disruption in maritime energy trade.
The development comes after the United States authorized the release of 172 million barrels over 120 days. Approximately 108.6 million barrels have already entered the market, according to the figures cited in the report.
The large-scale operation seeks to compensate for the interruption of commercial shipping through the Strait of Hormuz, a strategic waterway through which as much as one-fifth of the world’s oil supply previously passed.
The waterway has remained largely blocked after months of military confrontation involving the United States, Israel and Iran. Tehran closed the maritime passage in response to the conflict and has maintained that the strait will not reopen while US pressure and maritime restrictions continue.
US Strategic Petroleum Reserve Faces New Pressure
US Department of Energy | US Energy Information Administration
The depletion of the US Strategic Petroleum Reserve limits the government’s ability to respond to additional supply shocks if the conflict continues or expands to other energy routes.
The reserve was created to protect the US economy against severe interruptions in oil supplies. However, its current level is significantly below the volume available before recent releases, leaving Washington with a narrower margin for action.
Trump himself warned on June 17 that the reserve could be depleted rapidly if extraction continued at the current pace.
“We will run out of reserves in about four weeks,” the US president reportedly said, highlighting the difficulties created by the administration’s energy strategy.
In more recent comments, Trump has targeted major US oil companies, including ExxonMobil and Chevron, accusing them of benefiting financially from the war-related price increases. He has urged producers to lower the prices paid by consumers at gas stations.
The president’s position reflects the political pressure caused by higher fuel costs. Although the release of strategic crude can temporarily increase supply, it does not resolve the underlying problem when a major shipping route remains closed.
The administration has also faced criticism because Trump previously condemned oil releases carried out during Joe Biden’s presidency. In 2023, the reserve fell to approximately 347 million barrels, a level that Trump criticized at the time as a threat to US energy security.
Despite those earlier objections, the current conflict with Iran led to record withdrawals. In mid-May alone, nearly 9.9 million barrels were released in seven days, reducing the stockpile by roughly 10 percent to 374 million barrels during that period.
The pace of withdrawals has alarmed energy analysts. In May, CNN reported that the Trump administration was drawing down the reserve more quickly than previous governments, pushing inventories toward their lowest levels since the early 1980s.
The concern is not only the number of barrels remaining but also the time required to rebuild the stockpile. Replenishing the reserve would require purchasing large volumes of crude, potentially increasing demand and pushing prices higher.
Matt Smith, chief oil analyst at Kpler, warned that emergency reserves are not unlimited. He said the need to replace the released barrels could eventually contribute to higher prices, especially because the United States has traditionally served as a supplier of last resort during global disruptions.
The situation is particularly sensitive during the northern hemisphere’s summer driving season, when fuel demand typically increases. Helima Croft, global head of commodity strategy at RBC Capital Markets, said that even if an agreement were reached immediately, it could take approximately six weeks to restore shipping through the strait.
That delay would continue putting pressure on US inventories and international markets.
Hormuz Closure Disrupts Global Oil Markets
International Energy Agency | International Maritime Organization
The closure of the Strait of Hormuz has interrupted the movement of more than 1.2 billion barrels of oil, according to S&P Global Energy. The reduction in shipping has forced producers, buyers and shipping companies to seek alternative routes while facing greater security risks and higher transportation costs.
The disruption has affected not only the United States but also Europe and Asia. Nearly half of the oil released from US reserves during April and May was reportedly directed toward export markets in those regions.
That decision helped relieve pressure on international supply chains, but it also reduced the amount of crude available to address future shortages inside the United States. The policy has therefore created a difficult balance between stabilizing global prices and preserving domestic emergency stocks.
Oil markets have already reflected the disruption. On July 31, Brent crude rose to 90.12 dollars per barrel, while West Texas Intermediate increased to 84.67 dollars. Brent recorded a 24 percent monthly gain in July, its strongest performance since March. jornada.com
The increase followed reports that tankers had been forced to turn around or change course near the Strait of Hormuz. Although some vessels have continued to move through the waterway, commercial traffic remains well below normal levels.
The crisis has also raised concerns about the Bab el-Mandeb Strait, another important maritime passage connecting the Gulf of Aden with the Red Sea. Attacks and threats involving Yemen’s Houthi movement have created a second potential chokepoint for the transportation of oil and other goods.
The combination of disruptions in Hormuz and the Red Sea could further limit alternative export routes. Saudi Arabia has redirected part of its oil shipments through the Red Sea, but attacks against tankers could threaten that option as well.
In Cushing, Oklahoma, one of the principal US oil storage hubs, inventories fell to 24.5 million barrels, approaching the technical operating floor of approximately 20 million barrels.
The decline has prompted analysts to consider whether the United States might restrict oil exports to preserve domestic supplies and contain fuel prices. The White House has rejected that possibility, arguing that export restrictions could create imbalances in international markets and damage relations with trading partners.
The government’s position demonstrates the global dimension of the crisis. The United States is attempting to stabilize prices without closing off international markets, even as its own emergency reserves continue to decline.
Geopolitical Context
The depletion of the US Strategic Petroleum Reserve illustrates how a regional military conflict can rapidly become a global economic problem. The Strait of Hormuz is a critical energy chokepoint, and any prolonged disruption can affect fuel prices, inflation, shipping insurance and food production worldwide.
The crisis also exposes the limits of emergency stockpiles. Strategic reserves can provide temporary relief, but they cannot permanently replace normal maritime trade. If the closure continues, governments may face pressure to ration supplies, redirect exports or increase production despite environmental and infrastructure constraints.
For Washington, the situation carries significant political risks. Higher gasoline prices can weaken public support for the administration, while a depleted reserve could leave the government vulnerable if another emergency occurs.
For Europe and Asia, the disruption threatens access to oil and liquefied natural gas from the Persian Gulf. Countries that rely heavily on imports could face higher costs and renewed inflationary pressure, particularly if alternative routes remain insecure.
The crisis also affects relations among Gulf states. Governments in the region must balance their security partnerships with Washington against their geographic proximity to Iran and their dependence on stable maritime trade.
Iran’s talks with Oman concerning navigation arrangements could offer a limited diplomatic channel. However, Tehran has stressed that the discussions do not represent an immediate reopening of the strait. Recent reports indicate that traffic has shown slight signs of recovery, but remains far below normal levels. mundomaritimo
The central question is whether diplomacy can restore commercial shipping before US inventories fall further. If no agreement is reached, the continued withdrawal of crude from the reserve could leave Washington with fewer options and increase pressure on global oil prices.
The immediate impact may be visible at gas stations, but the broader consequences could extend to transportation, manufacturing, agriculture and household budgets. A prolonged Hormuz crisis would therefore test both US energy policy and the resilience of the global economy.
El petróleo WTI abre con baja del 0,87 % y cotiza a 76,62 dólares. Mercado a la espera de las negociaciones EE.UU.-Irán por el estrecho de Ormuz. Trump: “Estoy personalmente implicado, podría ser pronto”. Teherán aún no decide si reanuda el diálogo. #Petróleo #Ormuz #WTI… pic.twitter.com/zRjh6yc4dS
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