US Strategic Petroleum Reserve falls below 300 million barrels

US Strategic Petroleum Reserve inventories fell below 300 million barrels for the first time since 1983, down 6.1 million barrels last week to 298.7 million. Reserves are now at a 40+ year low. Implications: tighter emergency buffer, reduced supply cushion for shocks, and potential upward pressure on crude prices and energy-linked assets.