U.S. strategic oil reserve reaches lowest level in decades

So far, Israel's war with Hamas has not impacted U.S. gas prices, with some places across the U.S. even seeing gas prices drop. However, experts warn that could change if the war widens to other countries in the Middle East that are major oil producers.

The U.S. reserve is the world's largest supply of emergency crude oil, located in underground caverns along the Texas and Louisiana coasts, according to the Department of Energy. Over the years, U.S. presidents have relied on this reserve whenever there is international tension.

The issue today is the reserve has been greatly depleted under the current president. Over 200 million barrels of crude oil have been pulled out by President Joe Biden since the beginning of last year — around 40% of what was stored.

Read more: https://scrippsnews.com/stories/runni...
-------------------------------------
Join our newsletter at https://bit.ly/2q1tepr
Follow us on Facebook:   / scrippsnews  
Follow us on Twitter:   / scrippsnews  
Follow us on Instagram:   / scrippsnews  
Follow us on TikTok:   / scrippsnews