Strategic Petroleum Reserve Near Historic Lows Amid War in Middle East
Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
Strategic Petroleum Reserve Near Historic Lows Amid War in Middle East
Strategic Petroleum Reserve Near Historic Lows , Amid War in Middle East.
Strategic Petroleum Reserve Near Historic Lows , Amid War in Middle East.
Fox News reports that drawdowns made to the
U.S. Strategic Petroleum Reserve (SPR) have left
the emergency stockpile at its lowest level since 1983.
.
High market prices have reportedly delayed
efforts made to replenish the reserve, as Israel's war against Hamas could destabilize oil supplies worldwide.
.
High market prices have reportedly delayed
efforts made to replenish the reserve, as Israel's war against Hamas could destabilize oil supplies worldwide.
.
According to data from the Energy Information
Administration (EIA), the SPR had approximately
351.3 million barrels of oil as of September 29.
.
Fox News reports that for most
of the last decade, the emergency stockpile
has stood at over 650 million barrels.
According to an EIA estimate, the U.S. consumes
an estimated 20 million barrels of oil per day.
.
This means that the SPR would be depleted after
just 17 days if America could no longer access "new domestic production or imports," Fox News reports.
.
Fox News reports that the historical average since
1990 has seen the emergency stockpile maintain
approximately 33 days worth of oil reserves.
.
In 1975, the SPR was created under
the Energy Policy and Conservation Act following
an oil embargo by OPEC that lasted from 1973 to 1974.
America’s SPR remains the largest in
the world and stands ready to deliver
on its mission to provide refiners
and the American public relief
in the event of supply disruptions, United States Department of Energy, via Fox Business.
Initially, the SPR was intended to
have a one billion barrel capacity,
but it has never reached that level.
Fox News reports that SPR supplies are held at four
locations in salt caverns located thousands of feet
below ground to prevent leaking oil from seeping out.
In a surprising turn of events, Turkish Foreign Minister Hakan Fidan meets with Ahmed al-Sharaa, leader of the Hayat Tahrir al-Sham (HTS), in Damascus. The two leaders were seen walking, driving, and even sharing hot beverages at a local cafe, signaling a potential shift in regional alliances. This unprecedented meeting raises questions about Turkey’s evolving role in Syria and its relationship with militant groups. What does this mean for the future of Syria, Turkey, and the region? Watch the full breakdown of this shocking encounter and what it could mean for Middle Eastern geopolitics.
#Turkey #Syria #HakanFidan #AhmedAlSharaa #HTS #MiddleEastPolitics #Damascus #SyriaConflict #Geopolitics #TurkeySyriaRelations #PoliticalShifts #InternationalRelations
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The United States has launched a series of airstrikes against Houthi military targets in Yemen, including missile storage and command centers, after the Houthis launched a hypersonic missile attack on Tel Aviv, injuring at least 16 people. The attack comes amidst rising tensions, with the Houthis also targeting vessels in the Red Sea in solidarity with Palestinians during the ongoing Israel-Gaza conflict. In this video, we cover the latest developments and airstrike footage from both sides, highlighting the escalation in the Middle East and its potential global repercussions.
#USAirstrikes #HouthiMissiles #CENTCOM #YemenAirstrikes #MiddleEastConflict #IsraelGazaWar #TelAvivAttack #HypersonicMissile #RedSeaConflict #USMilitary #GulfOfAden #HouthiRebels
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A ballistic missile fired from Yemen struck the Israeli-occupied territories, causing significant damage and leaving at least 20 Israeli settlers injured. This attack is part of Yemen's ongoing support for Palestine amidst the ongoing Gaza conflict. The missile hit central Israel early on Saturday, setting off sirens and sending millions rushing to shelters. Despite attempts to intercept the missile, the Israeli military was unsuccessful. In this video, we explore the implications of this attack and what it means for the ongoing conflict in the Middle East.
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Although Israel and Hamas have expressed optimism that progress was being made toward a deal, sticking points remain over the exchange of hostages for Palestinian prisoners and the withdrawal of Israeli troops from Gaza.
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