US crude oil reserves have dropped to their lowest level in more than four decades as tensions with Iran continue to strain global energy markets, according to the latest data and industry analysis.
A chart released by Bank of America shows the United States has approximately 43 days of oil supply remaining, the lowest level since July 1983, highlighting growing concerns over the country's energy security.
Data from the US Energy Information Administration (EIA) indicates that commercial crude oil inventories stood at 409.7 million barrels as of July 10, around 6% below the five-year average.
Meanwhile, the Strategic Petroleum Reserve (SPR) declined to 316.5 million barrels as of July 18, marking its lowest level since April 1983.
Combined, the United States' commercial and strategic crude oil reserves have fallen to approximately 730.8 million barrels, among the lowest levels recorded in the past 45 years.
The decline comes amid heightened geopolitical tensions in the Middle East, where concerns over disruptions to global oil supplies have increased following the escalation of hostilities involving Iran and the United States.
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