U.S. Strategic Petroleum Reserve Falls to Lowest Level Since 1982

Crude stocks in the U.S. Strategic Petroleum Reserve stood at 284.6 million barrels for the week ending September 18, according to the Energy Information Administration, down from 285.0 million the week before and 406.0 million a year earlier. Department of Energy data show the reserve fell further the following week, to 283.8 million barrels, the lowest level since October 1982. The reserve has now set a new multi-decade low twice this year, first falling below 300 million barrels, and below its 1983 level, in early August. The current drawdown…