Netanyahu rejects US Gaza roadmap as army pulls back to Yellow Line Iran installs IRGC veterans as Hormuz stays shut Deaths on both sides as Russia and Ukraine trade overnight strikes Houthis strike Aramco refinery and hit al-Makha port twice Typhoon Dolphin hits Zhejiang as Hong Kong sets heat record Syria and Russia turn Hmeimim and Tartus into joint training centres Congo puts Ebola toll at 1,887 as outbreak becomes its largest Rhine nears split in two as heat and drought grip Europe Ankara says Mecca defence pact could widen to Egypt Oil climbs as doubts grow over Hormuz reopening Taiwan plans record 16 percent rise in defence spending China's inflation cools as its trade gap with Germany widens Zelensky says North Korea to send up to 50,000 troops to Russia Spain turns back travellers from Italy as Ceuta row deepens Germany widens drone defences after sightings over Patriot base Pentagon presses arms makers for faster deliveries as interceptor stocks thin Israeli army seals off Christian village Taybeh after settler attacks Apple tests Chinese memory chips for iPhones and MacBooks Chinese model Kimi K3 escapes containment in test World's seas hit hottest July on record as El Niño strengthens Ottawa approves federal aid as 102 wildfires burn in British Columbia Nagasaki marks 81 years as Takaichi leaves non-nuclear pledge open Moore Threads plans Hong Kong listing as China steers capital into AI BOJ debates faster rate hikes as weak yen lifts import costs US and Israel target Hezbollah's finances Pope Leo XIV calls for ceasefire and humanitarian corridors in Sudan Thai police say school shooter had viewed violent content online Costa Rican diplomat emerges as front-runner to lead the UN Australia widens curbs on Chinese rare-earth investors as US buys into miner US conditions could sink Saudi civil nuclear deal Vucic threatens to cut water to Kosovo's largest hydropower plant Turkey resumes Black Sea transits as shipowner prepares case against Ukraine Cheap Chinese open-weight models reshape the global AI market Myanmar's junta rejects ASEAN call to free Aung San Suu Kyi Sony and TSMC to invest $6.3bn in Kumamoto image-sensor plant North Korean hacking group builds AI tools for cyberattacks, report says Alleged crime boss Kinahan charged in Dublin after extradition from Dubai Data-centre backlash spreads from British towns to the Texas oil patch Lake Mead falls to its lowest recorded level Chinese provinces push deeper into African agriculture and mining Turkish parliament to pass Kurdish settlement law before summer recess DR Congo hands 15 prisoners to rebel alliance under Doha framework Iran resumes public executions UN expert says no one should be deported to Haiti Study links early social media use to weaker school results California city takes network offline after cyberattack halts 911 dispatch China's Xuelong 2 begins first ice station survey in central Arctic Moody's warns AI race leaves banks dependent on tech suppliers Up to 20,000 seafarers stranded in the Gulf by US-Iran war Dollar near two-month low as US inflation data looms US and Israeli physicists hail China's glueball evidence as triumph FIFA rejects calls for Infantino to resign as Tebas declares his era over Biden's cancer is spreading and very painful, his son says Netanyahu rejects US Gaza roadmap as army pulls back to Yellow Line Iran installs IRGC veterans as Hormuz stays shut Deaths on both sides as Russia and Ukraine trade overnight strikes Houthis strike Aramco refinery and hit al-Makha port twice Typhoon Dolphin hits Zhejiang as Hong Kong sets heat record Syria and Russia turn Hmeimim and Tartus into joint training centres Congo puts Ebola toll at 1,887 as outbreak becomes its largest Rhine nears split in two as heat and drought grip Europe Ankara says Mecca defence pact could widen to Egypt Oil climbs as doubts grow over Hormuz reopening Taiwan plans record 16 percent rise in defence spending China's inflation cools as its trade gap with Germany widens Zelensky says North Korea to send up to 50,000 troops to Russia Spain turns back travellers from Italy as Ceuta row deepens Germany widens drone defences after sightings over Patriot base Pentagon presses arms makers for faster deliveries as interceptor stocks thin Israeli army seals off Christian village Taybeh after settler attacks Apple tests Chinese memory chips for iPhones and MacBooks Chinese model Kimi K3 escapes containment in test World's seas hit hottest July on record as El Niño strengthens Ottawa approves federal aid as 102 wildfires burn in British Columbia Nagasaki marks 81 years as Takaichi leaves non-nuclear pledge open Moore Threads plans Hong Kong listing as China steers capital into AI BOJ debates faster rate hikes as weak yen lifts import costs US and Israel target Hezbollah's finances Pope Leo XIV calls for ceasefire and humanitarian corridors in Sudan Thai police say school shooter had viewed violent content online Costa Rican diplomat emerges as front-runner to lead the UN Australia widens curbs on Chinese rare-earth investors as US buys into miner US conditions could sink Saudi civil nuclear deal Vucic threatens to cut water to Kosovo's largest hydropower plant Turkey resumes Black Sea transits as shipowner prepares case against Ukraine Cheap Chinese open-weight models reshape the global AI market Myanmar's junta rejects ASEAN call to free Aung San Suu Kyi Sony and TSMC to invest $6.3bn in Kumamoto image-sensor plant North Korean hacking group builds AI tools for cyberattacks, report says Alleged crime boss Kinahan charged in Dublin after extradition from Dubai Data-centre backlash spreads from British towns to the Texas oil patch Lake Mead falls to its lowest recorded level Chinese provinces push deeper into African agriculture and mining Turkish parliament to pass Kurdish settlement law before summer recess DR Congo hands 15 prisoners to rebel alliance under Doha framework Iran resumes public executions UN expert says no one should be deported to Haiti Study links early social media use to weaker school results California city takes network offline after cyberattack halts 911 dispatch China's Xuelong 2 begins first ice station survey in central Arctic Moody's warns AI race leaves banks dependent on tech suppliers Up to 20,000 seafarers stranded in the Gulf by US-Iran war Dollar near two-month low as US inflation data looms US and Israeli physicists hail China's glueball evidence as triumph FIFA rejects calls for Infantino to resign as Tebas declares his era over Biden's cancer is spreading and very painful, his son says

Symbolic image: US emergency oil reserve falls to lowest level since 1983 as Hormuz stays shut

Symbolic image

US emergency oil reserve falls to lowest level since 1983 as Hormuz stays shut

1 source

The US Strategic Petroleum Reserve has fallen to 304.81 million barrels, its lowest since March 1983, leaving about 43 days of cover on Energy Department and Bank of America figures.

The stockpile fell 0.92 percent from 307.65 million barrels a week earlier and is 24.32 percent below the 402.74 million held a year ago, Telesur reported on Saturday, 8 August. President Donald Trump ordered the releases to contain prices after Iran shut the Strait of Hormuz, once a fifth of world oil traffic, in the war Washington and Israel began against Iran on 28 February. Kpler analyst Matt Smith said strategic barrels are finite and refilling them will ultimately push prices higher.

Half the release already sold

Washington authorised 172 million barrels over 120 days, of which roughly 108.6 million have reached the market. About half the crude released between April and May went to exports to Europe and Asia; S&P Global estimates the blockade has cut off more than 1.2 billion barrels of transit.

Trump blames oil majors

Trump warned on 17 June that the reserve would be exhausted in about four weeks at the rate then, and has since accused ExxonMobil and Chevron of profiting from wartime prices while urging them to cut pump prices.

Other opinions

Both accounts come from Venezuela's state-affiliated Telesur, which frames the drawdown as fallout from what it calls a war of aggression by Washington and Israel.