US oil reserves are so low amid Trump’s Iran war the caverns holding them could be damaged
CL=F
America’s emergency oil stockpile has dropped to its lowest level in 40 years, with experts warning that ongoing withdrawals for the war with Iran could permanently damage the underground caverns holding the crude.
The warnings arrive as American drivers face unprecedented gas prices for late summer. Today’s AAA National Average for a gallon of regular gasoline sits at $4.07, marking the highest levels on record for mid-August.
Concerns over the physical limits of the Strategic Petroleum Reserve center on the unique geology of its storage network. The crude is held within 60 salt caverns thousands of feet below ground at four sites across Texas and Louisiana.
unrated