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Story summary
- U.S. Strategic Petroleum Reserve fell to 365.1 million barrels in the week ending May 22, down from 374.2 million barrels a week earlier.
- The Energy Information Administration recorded a weekly drop of 9.1 million barrels, the lowest since April 2024.
- Analysts say the drawdown could bring the reserve to the August 1983 level, when it was still being filled.
- Oil analysts noted the drawdown helped keep crude prices below $150 per barrel and limited price gains.
