The U.S. is maxing out its strategic oil reserves as Trump vows to control the Strait of Hormuz

A government report says U.S. Strategic Petroleum Reserve stockpiles are precariously low due to major equipment failures, leaks, and spills. The readiness problem raises near-term supply-risk concerns that could be supportive of crude prices. Overall, the news is a negative development for energy security and market sentiment.

Analysis

A government report says U.S. Strategic Petroleum Reserve stockpiles are precariously low due to major equipment failures, leaks, and spills. The readiness problem raises near-term supply-risk concerns that could be supportive of crude prices. Overall, the news is a negative development for energy security and market sentiment.