Wealthion · Monday, August 31, 2026
The Strategic Petroleum Reserve in the United States has been drawn down to its lowest level since 1983. This depletion of inventory is occurring alongside drawdowns in private inventories, exacerbated by disruptions to key shipping lanes like the Strait of Hormuz and the Red Sea.
“So we have for example, if you take the strategic petroleum reserve in the United States, it's down to the lowest level it's been since 1983.”
“Private inventories have been run down also.”
“And and if the war continues or the straight continues to be plugged up, both the straight connecting the Persian Gulf as well as the straight connecting the Red Sea, you've got things plugged up and and we will eventually get those inventories down to very low levels.”