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The U.S. Strategic Petroleum Reserve drops to its lowest level in over two years

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Golden Finance reports that on June 2nd, according to U.S. sources, the Trump administration continues to release large quantities of the U.S. Strategic Petroleum Reserve to alleviate the energy supply crisis caused by the U.S.-Iran conflict and the closure of the Strait of Hormuz. Data released by the U.S. Department of Energy on the same day shows that last week, the strategic petroleum reserve decreased by 8 million barrels of crude oil. The previous two weeks saw reductions of 9.1 million barrels and a record 9.9 million barrels, respectively. As of now, the strategic petroleum reserve inventory has fallen to 357.1 million barrels, the lowest level since January 2024. Experts stated that at the current release rate, the strategic petroleum reserve could earliest drop below the low point during the Biden administration as soon as next week, reaching the lowest level since 1983. (CCTV News)
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