US SPR Falls Below 300 Million Operational Limit As Oil Drain Unexpectedly Surges To 6.1MM Barrels, Most In 2 Months

US SPR Falls Below 300 Million Operational Limit As Oil Drain Unexpectedly Surges To 6.1MM Barrels, Most In 2 Months As negotiations between the US and Iran to reopen the Strait of Hormuz go nowhere, oil prices continue to slide lower on some naive hope that a resolution to the conflict will magically emerge. Meanwhile, both commercial and strategic stocks continue to be drained at a historic pace, and one day virtually every tank bottom will be hit, sparking a historic surge in...

By Tyler Durden