Crude oil supplies at 45-year low

U.S. crude oil supplies have hit a 45-year low, primarily due to ongoing conflicts in Iran straining the nation's strategic reserves. Data from Bank of America Global Research indicates that the U.S. Strategic Petroleum Reserve is now at its lowest point since 1983, with just 43 days' worth of crude oil left. This situation underscores the vulnerability of the country's energy security amid geopolitical tensions, potentially leading to higher oil prices and economic disruptions. The low reserves could have significant implications for energy policy and the broader economy.