US strategic oil reserve at lowest level since 1983 as Hormuz stays shut

What happened

• Stocks fell 0.92 percent in a week from 307.65 million barrels, and stand 24.32 percent below last year's 402.74 million.
• Remaining crude covers about 43 days of supply, per Department of Energy and Bank of America Global Research figures.
• Washington authorised 172 million barrels over 120 days; roughly 108.6 million have already reached the market.
• Iran shut the strait, previously carrying up to a fifth of world oil, five months into the military confrontation.
• Trump warned on 17 June that reserves would run out "in about four weeks" at the extraction pace then.

The view from outside

Both reports come from Venezuelan state-affiliated Telesur, which dates the war to 28 February and calls it a war of aggression launched by Washington and Israel.

What could happen next

• Whether Iran reopens the strait is unresolved; Telesur reports the Oman dialogue does not signal an immediate change.
• Kpler says the reserve must eventually be refilled, which would push prices higher, with the US acting as supplier of last resort.
• Trump's demand that ExxonMobil and Chevron cut pump prices remains unanswered in the available reporting.