12 August 2026 08:00 (UTC+04:00)By Alimat AliyevaCrude oil inventories in the US Strategic Petroleum Reserve (SPR) have fallen below 300 million barrels for the first time in more than four decades, AzerNEWS reports. According to the US Department of Energy, the reserve declined by another 6.1 million barrels last week, reaching 298.7 million barrels — the lowest level since January 1983. The decline comes amid growing pressure on global oil supplies and heightened tensions surrounding the conflict with Iran. The SPR has a total storage capacity of around 714 million barrels, meaning current inventories are now below half of their potential capacity. With global oil markets already facing geopolitical risks, further disruptions could put additional upward pressure on crude prices and fuel costs worldwide.