BREAKING: The Strategic Petroleum Reserve (SPR) fell -5.5 million barrels last week, to 326 million barrels, the lowest since May 1983. This marks the 13th consecutive weekly decline, the longest streak since the 2021-2023 period, per Zerohedge. Over this time period, US oil reserves in the SPR have fallen -89 million barrels. This represents 51.7% of the planned 172 million barrels to be released under a relief program coordinated by the IEA to lower energy costs. By comparison, the US added +69 million barrels of oil to the SPR between July 2023 and March 2026. US oil reserves are being depleted at a historic pace.(The Kobeissi Letter)