Story perspectives

U.S. SPR Hits 40-Year Low as Inventories Fall, Prices Slip

7/1/2026

Summary

Story summary

SPR fell to 325.7 million barrels, the lowest level in four decades.
API reported U.S. crude inventories dropped 6.072 million barrels week ending June 26, and commercial stocks excluding SPR fell 59.4 million barrels in eleven weeks.
U.S. crude production rose to 13.819 million barrels per day week ending June 19, 384,000 barrels above a year earlier.
Brent slipped to $73.40 and WTI to $70.06 per barrel, each down about 1 percent while Hormuz flows resumed.

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Story summary

SPR fell to 325.7 million barrels, the lowest level in four decades.
API reported U.S. crude inventories dropped 6.072 million barrels week ending June 26, and commercial stocks excluding SPR fell 59.4 million barrels in eleven weeks.
U.S. crude production rose to 13.819 million barrels per day week ending June 19, 384,000 barrels above a year earlier.
Brent slipped to $73.40 and WTI to $70.06 per barrel, each down about 1 percent while Hormuz flows resumed.