Iran conflict drains US oil reserve to 300 million barrels

The US Strategic Petroleum Reserve (SPR) has fallen to 300 million barrels for the first time, as the Iran conflict accelerates withdrawals. The oil is stored in 60 salt caverns thousands of feet underground at four sites along the Gulf Coast in Louisiana and Texas, NDTV Profit reports.

The reserve acts as a buffer against supply disruptions. The drawdown reflects the strain of rising tensions with Iran, with the current level described as a 'breaking point' by the outlet. Analysts see the 300-million-barrel mark as a critical threshold for US energy security.