Oil held in the U.S. Strategic Petroleum Reserve has fallen to its lowest levels since 1983 ( Getty )It's not the first time in recent history that the federal government has released oil from the reserve. The invasion spiked oil prices worldwide. Prior to the U.S. and Israel's war in Iran, the SPR contained approximately 415 million barrels of oil. Meanwhile, U.S. oil prices have continued to climb as confidence that Washington can reach a deal with Tehran ending the war dwindles. West Texas Intermediate crude oil prices rose 5.1 percent to $82.13 on Monday, while Brent Crude — a global benchmark for oil prices — jumped 5 percent to $87.72 per barrel the same day, the New York Post reports.